More signs that the video player crash is coming. According to NewTeeVee, Instant Media has ceased operations. The video player that is just like the rest is no longer offering up video. Instant Media was backed by a billionaire Scott Blum (of SoCal based buy.com) who eventually pulled his money from the project. No formal announcement was made, but Chris Tew of WebTVWire tried contacting Instant Media and couldn’t get a hold of anyone save the developer who said, Blum has pulled his money.
On the brighter side, http://www.im.com is now available. AOL/AIM or GChat might be looking to snatch that up.
NewTeeVee also notes that webvideo pioneer FireAnt sold its technology to Sonic Mountain for $400,000.