Vine 2 Has Been Postponed "Indefinitely"
5 May 2018, 10:11
Financial and legal hurdles have snuffed out Vine 2's return
Sad news for Vine lovers - the hotly-anticipated second coming of the six-second video app has put on hold for the foreseeable future.
Why has Vine 2 been postponed?
In a statement to Vine 2's website, Vine's founder Dom Hoffman revealed that unexpected "financial and legal hurdles" have hampered V2's development.
"When I announced that I was working on a follow-up to Vine, I also (perhaps foolishly) announced that it would be a personal project and personally funded. I underestimated the amount of enthusiasm and attention the announcement would generate. The interest has been extremely encouraging, but it has also created some roadblocks. Taking into account a larger-than-expected audience, we now know that the estimated costs for the first few months alone would be very high, way beyond what can be personally funded.
The attention has also raised an issue that we might not have faced otherwise: legal fees have been overwhelming. It’s unlikely that this will be the last of these issues.
Long story short, in order to work, the V2 project needs to operate as a company with sizable external funding, probably from investors.
This is difficult because I already run an early-stage company that is in the middle of development. Very few backers would be happy with the split attention, and I wouldn’t be either. This is potentially solvable, but it’s going to take time for the space and resources to become available."
So is Vine ever coming back?
According to Dom, Vine 2 is off the cards until he is able to focus on it 100%. "This is indefinite, which means that i could take a long time," he said.
V2 was first announced back in December 2017.