The Cycle

A loose bolt

Bolt, one of the first social networks for teens, video sharing site, and, according to MediaBistro, “[pioneer of] techniques used by Facebook and MySpace,” has filed for bankruptcy and shut down.

The network failed to conform to the innovations and demands of today’s social networks. And, well, the acquisition talks with GoFish that fell through and the $10 million debt due to a Universal Music copyright infringement case couldn’t have helped.

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