Vine was a social media video hosting website that allowed users to create and share 6-second videos. Similar to TikTok more on that below.
To put the concept into context, Vine attempted to do for YouTube vlogs what Twitter did for traditional blogs. Because of its character length restrictions and social features, Twitter promotes itself as a microblogging social media platform that follows, retweets, etc.
Vine, on the other hand, was a microvlogging platform due to its video length restriction combined with similar social features.
As a result, it makes sense that Vine was purchased by Twitter for $30 million before the app even launched. It provided Twitter with an easy way to compete with much larger social media behemoths like Facebook and Google on video content.
Why did vine shut down?
because it was a loss-making business that was losing popularity to other similar services, most notably Instagram Spending money while losing market share is unsustainable.