Social Media

Twitter might sell Vine, report says

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Despite saying it would shutter the service, Twitter might still sell looping video app Vine, TechCrunch reported on Monday.

Twitter is vetting multiple terms sheets from companies offering to buy Vine and hopes to make a deal soon, sources told TechCrunch. According to one of TechCrunch's sources, the offers are for under $10 million.

Twitter declined to comment to CNBC, citing a policy against commenting on rumors and speculation.

Vine's short videos became a pop-culture phenomena, and were especially impactful in the black community, The New York Times reported. But Vine announced in late October it would shut down the app, after it faded away within the business community.

It comes as Twitter slashes costs, including layoffs, amid reports that its own M&A process has stalled.

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