Bolt.com, a social network around video content, has ceased to exist. Apparently they have turned belly up after the acquisition by GoFish went wrong recently.

Bolt founders have moved on and are now occupied with WikiYou, the Mayfield and First Round Capital-funded startup they launched last month.(Paidcontent)

The acquisition has gone bad because of the outstanding coyright issue between Bolt and UMG Recordings Inc. Bolt.com has been operational for almost 11 years.

Two things I'd like to comment :

• 1. Bolt.com will probably be for sale on eBay anytime soon
• 2. Video and audio sharing sites can and will only exist by the grace of the recording industry - you better plan deals before opening shop !