Microsoft-backed social network goes belly-up

A would-be social network called Wallop has shut its doors, according to a message on the homepage.

But Wallop wasn't just another tale of crushed Silicon Valley dreams. The site, which once aimed to compete with the likes of MySpace, had backing from none other than Microsoft.

Obviously, it never really caught on: Wallop was never talked about in the same sentences of even third-tier social networks.