Vine co-founders hosted an RIP party on their new app, Hype

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Honorees Rus Yusupov (L) and Colin Kroll (R) accept the Breakthrough Award for Emerging Technology from rapper Lil Jon (C) onstage at the Variety Breakthrough of the Year Awards during the 2014 International CES at The Las Vegas Hotel & Casino on January 9, 2014 in Las Vegas, Nevada.

What better way to launch your new app than at the funeral of your old one?

Two co-founders, Rus Yusupov and Colin Kroll, live-streamed an RIP party for Vine, the six-second looping video-streaming app they launched in the summer of 2012, on their new interactive live-streaming app, Hype.

(The third Vine co-founder Dom Hofmann was not in virtual attendance.)

Twitter bought Vine in the fall of 2012 for a reported $30 million before the video looping app even officially launched, and this week, Twitter said it would be shutting down Vine.

The announcement comes after Twitter said it would lay off nine percent of its workforce and as the social media company has been courted for takeover bids from the likes of Google and Salesforce.

Video killed the radio star. And Snapchat, Instagram video, and video on Twitter killed the Vine star.

Upon hearing the news that his baby was being laid to rest, Yusupov reacted with a bit of exasperation on Twitter: "Don't sell your company!"

But then, presumably having processed his grief in a few six-second loops, Yusupov and Kroll got together to live stream a mashup of memories, favorite vines, and remembrances from a couple of Vine stars on Hype.

The beta version of Hype launched on the new product forum Product Hunt yesterday.

"Hold back the tears," Yusupov smiled, responding to a comment that appeared on his app, as he welcomed guests. "Bittersweet moment, bittersweet moment."

If Yusupov and Kroll were lamenting deep down, they were hiding it well. They seemed moderately bummed, as if their usual lunch spot were out of their favorite sandwich.

"We have gathered here today to talk about Vine," Yusupov said, a casual reference to the greeting often used to start a funeral service in a church.

The founders at least acted surprised. "Did not know that was coming," said Kroll.

"Was kind of a surprise to us," said Yusupov.

The duo went over early memories from when they launched Vine in New York City, sharing pictures of their first office and their first launch party.

One of the more famous Vine stars, Nicholas Megalis, who has nearly five million followers on Vine, called in to air his grievances and share how Vine changed his life. Megalis said that Vine gave him a creative outlet, introduced him to his wife, and even saved his life.

"I am expecting a baby and I don't know if I would have ever been able to say that if it weren't for Vine, you know what I mean? I am emotional about it. It was also an outlet for me to be creative, it was a place for me to make whatever the f*** I wanted to make," Megalis lamented.

"I was at a creative standstill. The life had been sucked out of me by living in New York City. I had been living in New York City for five years already and I was over it, I hated it. I was a manny, I was babysitting some six-year-old kid, and I was just miserable and Vine came along and I was like thank God, I can rejuvenate my creative juices," Megalis said. "I don't know what Vine is in 2016, but for me in 2013, it saved my actual life."

While perhaps not many people can say that Vine saved their lives, the looping video app did launch a number of creative careers. For example, social media starlet Jake Paul catapulted to popularity on Vine, as did his brother Logan, who told CNBC he was sad the app was shutting down but that he's already moving on.

"We love Vine, we love Twitter," said Yusupov.

And now Yusupov also loves his new interactive video streaming app, Hype. The death of one app gave him a perfect platform to celebrate his new baby.