WebRing was started by a co-founder of DreamHost. Then sold to GeoCities, which was then sold to Yahoo, and, well, read the article. Josh thinks it’s a sort of micrososm of the web:
It went from a tiny ad-free community service, to hyper-growth, to showing ads, to being acquired for an INSANE price, to being forsaken, to doing anything to survive, to “social networking”, to “web 2.0″, to today!
They’re also offering free hosting for 1000 GeoCities users, should any be found.