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News from new media land: Pioneer social networking site has kicked the bucket.’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

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