Yahoo Live was a short lived project that let users broadcast live video on Yahoo. It was very similar to other live streaming services like Stickam, Justin.tv and Ustream and Blogtv, and it deadpooled less than a year after launching. Today the site has a message saying “kthxbai.”

Now someone is trying to bring back Yahoo Live as an independent service at Y!Undead. There is little information on the site, other than a sentence on the about page saying “From the ashes of Y!Live… [Insert cliché about Phoenix rising etc etc].”

We’ve heard speculation that former Yahoo employees who worked on Live are behind the new service. We’re looking into that, and trying to get into the service itself, which is in private beta, to have a look. If you have an account, please let us know.

Update: The site now says “1/20/09: Looks like we got TechCrunch’d. Just as a small note– we’re not affiliated with Yahoo or the Yahoo Live service in any meaningful way. We’re working with TokBox to roll out a webcam chat service similar to the likes of what died in December. We’ll keep you posted.”