Bolt Joins The Deadpool

Video sharing site Bolt has filed for bankruptcy and ceased operations.

The site has been on borrowed time since an acquisition by GoFish failed August 1. Bolt.com was sued by Universal Music in October 2006 and owes Universal $10 million from that suit; the funds from the GoFish acquisition were to have been used to settle the $10 million with Universal.

Bolt joins the TechCrunch Deadpool.

Nirvanix To Challenge Amazon S3

Look for new San Diego-based Nirvanix to launch in the next few weeks. It aims to compete with Amazon’s popular S3 storage web service and provide web developers another choice for online storage.

The company, which is affiliated with online storage startup MediaMax (aka Streamload), should also be announcing a $12 million round of financing in the near future. It’s not clear exactly how affiliated Nirvanix and MediaMax are, and the company is keeping the specifics of the relationship quiet for now. There has clearly been a technology swap, though, and MediaMax is now using the Nirvanix service to provide the back end of its storage product. Also, former MediaMax CEO Patrick Harr is now running the show at Nirvanix (MediaMax founder Steve Iverson has retaken the CEO spot at MediaMax).

While the company is keeping quiet about the funding and exactly how it’s affildiated with MediaMax, they are saying that they’ll be filling some of the perceived holes in S3. Hopefully they’ll be offering a service level agreement (Amazon doesn’t).

MediaMax, meanwhile, has been trying to pull through a hellish technology transition (my guess is it was related to the changeover to Nirvanix) that plagued them earlier this summer. They’ve moved their corporate blog to a new site, and are talking openly with users about some of the problems they’re facing.

Disclosure: I am an investor and on the board of directors of Omnidrive, which is also in the online storage space and can be considered a competitor to MediaMax and Nirvanix.

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