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Bolt.com, the popular video-sharing site that was taken completely off the Internet after both being sued by Universal Music Group and seeing its planned acquisition by GoFish fall through, is back online. According to a source familiar with the events, Bolt’s former president, Lou Kerner, purchased the assets for less than $200,000 from bankruptcy. The site is indeed up, though much of it is broken, with only about 100 newly added videos that work.
Click through to watch the “Bolt.com is ALIVE!!” video posted on the site for the occasion.
It appears that Bolt, in its new incarnation, will be used more as a social networking tool than as a video portal. Kerner is currently president of WildSites, a company that buys unused web domains and monetizes them with AdSense. It sounds a lot like Demand Media. The WildSites front page explains the Bolt acquisition as a way to make those domains more valuable:
In January of 2008, WildSites lead the acquisition of the assets of Bolt.com, the original teen social network, launched in 1996. Over the years, Bolt registered over 12,000,000 active members, and was one of the top 1,000 most trafficked sites in the world, according to Alexa.
In addition to Bolt’s great portfolio of domain names, Bolt’s highly scalable, highly flexible social-networking platform will be integrated in to several WildSites properties. In addition, WildSites is already engaged in active discussions to white label the social networking platform to other domainers.
Another significant Bolt asset is its brand name among Fortune 1000 youth advertisers. WildSites looks forward to leveraging that brand name to drive significant brand advertising revenue across its network of owned and repped sites.