There may never be a social network that can match Vine’s post-to-meme ratio again. So after Dom Hoffman, one of Vine’s co-creators promised the network would return, the web shed a collective tear of joy.
Now those tears have grown saltier. V2, as the project was dubbed, has been “postponed for an indefinite amount of time.”
— v2 (@v2app) May 4, 2018
“It's both terrifyingly interesting and interestingly terrifying”
According to VICE, TNW Conference is quite the event
Hoffman says V2’s legal fees and other expenses were too high to
get it right. The project was likely to require significant external funding, and investors didn’t like the idea of Hoffman splitting his attention with his other startup project.
There’s still a glimmer of hope. Hoffman doesn’t seem to be abandoning the idea completely but it could be a long time before the V2 project resumes:
the code and ideas still exist, but until everything else comes together, we can’t move forward.
Long story short: startups are hard, even if you’ve already done it before. You’ll have to wait a lot longer before you can one more time.