In a short and sweet entry posted on their blog, Vine announced they will be shutting down in the coming months:
Since 2013, millions of people have turned to Vine to laugh at loops and see creativity unfold. Today, we are sharing the news that in the coming months we’ll be discontinuing the mobile app.
Twitter announced a company restructuring and reported it would be laying off 9% of its workforce, as well as other cost cutting measures.
At the moment your vines are safe, but it is recommended you download all of your vines as soon as possible.
Vine also announced it would communicate with their creators and try to answer all questions. All will be notified through the app when the changes begin.