V2, the follow-up to the beloved six-second video app, has been postponed due to funding and legal issues, Vine co-founder Dom Hofmann announced on Friday.
“I’ve made the very difficult decision of postponing the v2 project for an indefinite amount of time,” said Hofmann on a forum devoted to v2. “There are several reasons for this, including a bit of ‘sequelitis’, but I’d like to explain the biggest one, which is due to financial and legal hurdles.”
Hofmann made waves last December, teasing a Vine comeback with a v2 tweet. It came one month after he’d said he was “going to work on a follow-up to Vine.”
Founded in June 2012, the app was quickly acquired by Twitter in October of that year for $30 million. It launched in early 2013 and enabled the likes of Shawn Mendes, Ruth B. to land record deals based on their six-second clips. Vine shut down in early 2017.
While Vine was once a trailblazing app — launching before Facebook and instagram pivoted to video — Twitter was unable to leverage its popularity. Running ads against six-second clips and pulling in revenue wasn’t in the cards for Vine.
Hofmann didn’t completely throw in the towel on Friday, saying his developer team will “take a step back.” He added: “The code and ideas still exist, but until everything else comes together, we can’t move forward. Again, this is indefinite, which means that it could take a long time. But it’s necessary.”