Twitter acquired Vine in 2012 along with its three founders.
Twitter just laid off Vine’s last remaining co-founder, Rus Yusupov, BuzzFeed reports.
Twitter acquired the 6-second video company back in 2012, just months after the application launched. Yusupov was originally Vine’s creative director, but the design of the app is now overseen by Jason Mante, Vine’s head of user experience. Yusupov was the last of the three founders to work at the company: Dom Hoffman and Colin Kroll each stepped down in 2014.
One of Jack Dorsey’s first moves as the new official CEO of Twitter was to terminate up to 336 employees. He had been serving as the interim CEO since Dick Costolo stepped down over the summer, and just stepped into the role permanently earlier this month.
Dorsey believes that this reduction, particularly in the engineering and product departments, will enhance the efficiency of operations. The move, approved by the Board of Directors on Monday, turned out to be bad news for Yusupov.
The company also announced that it expects its third-quarter revenue to be “at or above the high end of the previously forecasted ranges of $545 million to $560 million.” The results will be reported on October 27.