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Twitter to shut down Vine, but nothing will happen to your Vines Pictured: [Representational Image]Reuters

Twitter has decided to discontinue its video sharing app Vine in the coming months, but will keep the website up for users to continue viewing Vines that have been posted.

"Nothing is happening to the apps, website or your Vines today. We value you, your Vines, and are going to do this the right way. You'll be able to access and download your Vines," Team Vine and Twitter said in a statement.

"We'll be keeping the website online because we think it's important to still be able to watch all the incredible Vines that have been made. You will be notified before we make any changes to the app or website," it added.

One of the founders of Vine, Rus Yusupov, who did not know about Twitter shutting down the mobile app, tweeted, "Don't sell your company!" after learning about it.

Yusupov, Dom Hofmann and Colin Kroll, the founders of the app, had sold it to Twitter for $30 million in October 2012.

To all the creators out there — thank you for taking a chance on this app back in the day. To the many team members over the years who made this what it was — thank you for your contributions. And of course, thank you to all of those who came to watch and laugh every day," the statement read.

Vine allowed users to share six-second videos on Facebook and Twitter. However, Vine reportedly couldn't keep abreast with the fast upgrades of Snapchat, Facebook and other players in the market.

There was no reason given for Twitter's decision to shut down the popular app. The social media platform, however, had announced that it is going to lay off nine percent of its workforce soon.

Twitter had also acquired a live streaming video platform Periscope after Vine.

Their decision comes months after Twitter announced that it is increasing its video length time to 140 seconds same as the character length it allows on Twitter.

Meanwhile, users have not taken Twitter's decision well and a campaign called 'Save Vine' has been launched on with a goal to crowdfund $970 million. Another petition campaign on Petition24 has been started to save the beloved app.

This is how the internet reacted to the news: