Bolt.com, best known as a video sharing site that didn't really catch on, has filed for bankruptcy and shut down. The site had been in acquisition talks with GoFish, which would have been able to cover the $10 million settlement in a copyright infringement case with Universal Music. Earlier this month, the acquisition fell through, and Bolt was essentially doomed.
But it was really MySpace, not YouTube or copyright woes, that struck the first blow to Bolt. Before it shifted its focus to video, Bolt was a teen-oriented social networking site in the days when Facebook founder Mark … Read more