Twitter has acquired social video-sharing platform Vine just one day after rumors began circulating that Twitter will attempt to launch its own video hosting and sharing services.
Vine has not yet launched but promises to give its user base the ability to share short video clips, even if they are only a few seconds in length. The shortness of the videos match Twitters 140 character limit as a micro-blogging platform.
Vine is a small firm in New York that consists of three workers.
According to AllThingsD the company before its acquisition was promising an iOS device and an auto-stitching feature that can tie short video snippets together.
The platform was founded by former JetSetter employees Dominik Hoffman and Colin Kroll. The three workers at the company along with IAC’s High Line Venture Partners had invested $1 million in the Vine startup.
The apps main competitors include Viddy, Keek and Tout among others.
How Twitter will utilize Vine and the workers it has acquired is not known at this time.