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Twitter Shutting Down Video-Looping App 'Vine'

Earlier this week, Twitter Inc. announced it would be cutting 9 percent of its budget and laying off more than 300 employees working out of its San Francisco headquarters. It followed with the announcement Thursday that it was going to jettison Vine.

(TNS) — If you're a regular user of the social media site Vine, better get your videos out there asap.

Twitter Inc., which owns the video-looping app, has announced it is shutting the app down as part of a move to cut costs.

When it debuted in 2013, Vine shot to the top of the most popular of Apple's app, finding a niche with people who were drawn to its short, cutting-edge format.

The best of the site's six-second looping videos helped popularize new cultural memes such as "Damn Daniel" that went viral, resonating with Staten Island teens.

But Vine quickly lost out to competitors like Snapchat, Facebook, Instagram and YouTube.

Earlier this week, Twitter Inc. announced it would be cutting 9-percent of its budget and laying off more than 300 employees working out of its San Francisco headquarters. It followed with the announcement Thursday that it was going to jettison Vine.

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