The terms of the sale were not disclosed.
According to the site’s homepage, “Vine is the best way to capture and share video on your iPhone. No editing. No rendering. No post-production. Video has never been this fun.”
The company’s founders include Jetsetter alumni Dominik Hofmann and Colin Kroll. The Next Web speculates that Twitter is more interested in the talent than the product, as the site is still in private beta.
Hofmann has posted a sample video shot with Vine on his Twitter feed. It looks nothing like a YouTube video. The link leads to a brief clip with no controls that replays on a loop, like an animated GIF. Aside from retweeting the link, there are no options to download, embed or share the video on other sites.
This would, at least, provide another media option that’s native to Twitter, which is something that the company has been doing a lot of lately. In June, Twitter rolled out expanded tweets that show images, headlines, and summaries of news stories without leaving Twitter’s homepage. In August, Twitter removed the “via” stamp that shows which services people use to send their tweets.
AllThingsD’s sources say that Twitter wants to be rid of third-party hosting sites like Twitpic, Twitvid, and yFrog that cause “logistical headaches” and focus instead on “enhancing the company’s existing advertising products, namely the promoted suite.”