A big resource for entrepreneurs and startup owners, in which we have collected and analyzed why +100 big companies have failed. Learn from mistakes, and avoid being part of the 90% of businesses that fail.
Platform to share short looping video clips
Vine was a video hosting social platform that allowed users to share six-second videos on the internet. Its video looping feature lured users into watching hours of funny, silly or creative content and the shareability factor helped the app gain popularity in a short amount of time. Random people could instantly become Vine stars and celebrities could use the medium to promote their brand in a fun and new way. Vine was acquired by Twitter for $30 million even before its first official launch. Videos recorded with the Vine app were then only shearable on Twitter or could be kept on the camera roll.
Some state that the very acquisition of Vine by Twitter, which initially brought about a wave of optimism, somehow tramped the potential growth of this video sharing service.
There’s also the fact that Vine ‘remained true to itself’ or, as others would say, failed to listen to the needs of its users to grow and develop as it user base increased and became more demanding. The failure in meeting the market needs also debilitated its ability to compete with other emerging video-centered applications such as Instagram and Snapchat.
And last but not least, Vine couldn’t find a sustainable business model as advertisers seemed to find the platform unsuitable for product promotion and Vine couldn’t manage to offer a shared revenue to video creators on the platform as YouTube did. Furthermore, whenever users gained a certain amount of popularity it wasn’t unusual that they would seek to build on that fame on other platforms and eventually discontinue their presence on Vine as the number of downloads and active users on the platform continued to decline.
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