updated 01:27 pm EDT, Wed October 10, 2012
Vine may allow Twitter users to share short video clips
Twitter may soon allow its subscribers to link to and share short video clips, if the latest reports of it buying a yet-to-be launched video clip sharing service prove true. While the details of the deal aren't known, Vine promises to let its user base share short video clips, often just seconds in duration, with others. This certainly fits in with Twitter's short character limit as well.
Vine is based in New York and has a staff of just three individuals. It promises an app for iOS devices, with an auto-stitching feature that will tie together a few short video snippets.
Vine was founded by Dominik Hoffman and Colin Kroll, both of whom worked at JetSetter. David Tisch is another founder, with the three reportedly investing a total of about $1 million. Some of that money came from RRE, IAC's High Line Venture Partners.
Once the app launches, it will likely compete with Viddy, Keek, Tout, and Vyclone. [via AllThingsD]