Survival startups. Undo chat.ru

In the 1990s, Chat.Ru was one of the most popular and most visited sites in runet. But at some point it stopped developing, and in recent years it has hardly been visited.
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This is just the beginning. Chat.Ru promises a lot more interesting. But that's another story.

Such words began and ended the article about the revival of chat.ru. Transforming it into a new and wonderful service with a claim to further development. Apparently, something went wrong ...

Literally 20 minutes ago, I needed to create a “new generation chat” for one of the sites. I entered a standard link and got to the page with an error. And on the page the design of the site of the old chat.ru, existing almost unchanged since February 2001 .

Unfortunately, chat.ru pages on web.archive.org have ceased to exist since 2007 and it is not known when the rollback to the old version occurred.
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Nowhere on the Internet did I find news about why the idea did not go, although they actively wrote about it and wanted to develop a service with active monetization. ( link 1 , link 2 ).

If anyone has any information on this startup - please share. I wonder why such a good startup built on the xmpp protocol failed.

PS If the topic does not fit the section, then I am waiting for tips on where to move it.
PPS Criticism is welcome.