Social media website Twitter is considering selling Vine rather than shutting down the video-sharing application, according to the TechCrunch news website.
Twitter announced last month that Vine will be discontinued “in the coming months.” The app, which allows short-form videos to be distributed, has been popular with sports properties and clubs, which have offered clips of action on the field or behind-the-scenes snippets.
However, TechCrunch said that multiple bids had been lodged with Twitter since the announcement, with a list of 10 offers having been whittled down to five. Several bids were received from Asia, the report added.
The website suggested that one potential bidder could be Japanese messaging and gaming company Line.
Twitter is looking to reduce costs and its workforce and it has been reported that Vine user numbers have fallen in recent months.
Twitter recently integrated video-sharing directly into its main mobile apps and has started streaming coverage of Thursday night NFL American football games this season.