Twitter Video Sharing Community 12Seconds is Shutting Down

The Twitter video community 12seconds has announced they will be closing their service on the 22nd of October. 12seconds offered users the ability to record short video clips and share those clips via Twitter.

In an open letter published on its home page, 12seconds CEO Sol Lipman said that “it’s time to call it quits,” adding:

“12seconds is not a failure — it is a life well-lived.  It really is about the journey.  I know this because I’m at the destination.”

12seconds was a completely bootstrapped company and its great to see companies like this in the marketplace.

Lipman wrote about this two years ago on the company’s blog:

“Why do you raise funds?  To pay people.  Every single person at 12seconds has another job or consults.  No one gets paid.  Yes, we’d all love to work on 12seconds full time.  Perhaps one day we will raise money and get paid.  But the lack of funding is not and will not be the barrier that stops us.”