Vine 2 Has Been Postponed Indefinitely Because of “Financial Hurdles”
The news of a sequel to the ever-popular video-sharing app Vine made waves in the world as soon as it was announced in December 2017. It was once rumored that Logan Paul would not be allowed on Vine 2 due to his controversial suicide video, but that was allegedly not true. But even though the OG Vine star could technically join, it’s not going to happen since Vine 2 has been postponed indefinitely.
Vine co-founder Dom Hofmann made the announcement in the V2 Community Forums over the weekend. Basically, he underestimated the cost it would take to get Vine 2 running and therefore has to take a step back. The statement reads, in part:
“I didn’t expect to write this even a few weeks ago, but I’ve made the very difficult decision of postponing the V2 project for an indefinite amount of time.
There are several reasons for this, including a bit of ‘sequelitis’ 411, but I’d like to explain the biggest one, which is due to financial and legal hurdles.
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.”
As for when all of this is going to be figured out, “it could take a long time.”
— v2 (@v2app) May 4, 2018
Dom isn’t sure when (or if) Vine 2 will ever get off the ground.