CNET reported on September 18th that social networking site Wallop posted a notice on its homepage announcing it was closing down.
"Thank you for using our Wallop beta social network site. We appreciate your feedback and support. The beta period will end on September 28, 2008, after which you will no longer be able to access your account."
However, the closure of Wallop represents more than just another fading Silicon Valley dream. Initially, this site aimed to rival MySpace and had Microsoft's backing.
Microsoft did not invest in Wallop through traditional means; the technology behind the site was actually developed by Microsoft researchers and then spun off into an independent entity.
In 2005, Microsoft announced it would license some products from its research labs to select startups, one of which was Wallop. The company showcased Wallop at the Demo Conference in 2006, but unfortunately, the site never gained significant traction.
Last month, Yahoo also announced the discontinuation of Yahoo Mash, demonstrating that even with backing from tech giants, social networking sites aren't guaranteed success.