News from new media land: Pioneer social networking site Bolt.com has kicked the bucket. News.com’s The Social blog reports the site was in acquisition talks with GoFish; the talks fell through, ultimately dooming the company. Bolt, which in a later incarnation served as a video sharing site, was facing a $10 million debt due to a Universal Music copyright infringement case.
Bolt, which started in the late 1990s, was one of the first Internet’s first social networking sites for teens. Ultimately, they pioneered a lot of the techniques used by MySpace and Facebook, but just couldn’t make the transition to the post-broadband age.
— Neal Ungerleider