Late last year, Vine's co-founder, Dom Hofmann, said he was working on "a follow-up to Vine," after the six-second video social media app was shut down by Twitter in October. "I'm going to work on a follow-up to vine. i've been feeling it myself for some time and have seen a lot of tweets, dms, etc.," Hofmann tweeted at the time. Well, several months have passed and we have learned that Vine v2 will be postponed for an "indefinite amount of time" while Hofmann figures out funding and logistical hurdles. The Verge reports: The announcement, made on the v2 forums and reposted this morning by the official v2 Twitter handle, is a disappointing but understanding turn of events. Back in January, Hofmann suggested the app may launch as soon as this summer, which was an ambitious timetable. Now, Hofmann says that, despite the immense interest in his project, he has to take the time to make sure it doesn't fall apart before continuing. He cites a need for substantial venture funding to get v2 off the ground after initially thinking he may be able to self-fund it. "Long story short, in order to work, the v2 project needs to operate as a company with sizable external funding, probably from investors," Hofmann writes. "This is difficult because I already run an early-stage company (Innerspace VR, a creative immersive entertainment studio he founded after selling Vine to Twitter years ago) that is in the middle of development. Very few backers would be happy with the split attention, and I wouldn't be either. This is potentially solvable, but it's going to take time for the space and resources to become available."
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