Dom Hofmann, creator of the now-defunct six-second video app Vine, has put his follow-up app V2 on ice, as The Verge points out.
In a post on the V2 forum, Hofmann wrote that he's "made the very difficult decision of postponing the V2 project for an indefinite amount of time." He pointed to "financial and legal hurdles" as the main reasons for the delay of the project.
Vine was purchased by Twitter for $30 million in October 2016 and shut down the following January to much consternation from users, fans of the internet, and Hofmann himself. Hofmann announced V2 last November.
In his forum post, Hofmann claimed to have "underestimated the amount of enthusiasm" for the new app, and that outside funding will likely be needed for development to continue. “Long story short, in order to work, the v2 project needs to operate as a company with sizable external funding, probably from investors,” Hoffman wrote.
In the spirit of the unfortunate news, and the much worse social media apps we're stuck with, here's a classic Vine: