Parker, Fanning Plan Live Video Venture

Facebook founding president Sean Parker and Napster co-founder Sean Fanning are busy at work on some top-secret start-up, Forbes reports. Dubbed Airtime, Parker tells Forbes that it's a live video site that will meet the need for real-time sharing and communication by allowing users to post videos and react to them live. Airtime's working mission statement? Only to "eliminate loneliness," according to Parker.

"Parker has been coy about the platform's specifics, but says it will offer communication and sharing in real time -- something he thinks is underserved on the Web," Forbes writes. "Airtime will likely be a site where friends can post videos and react to them -- and each other -- live."

There's also a video chat function a la Chatroulette. In April TechCrunch reported Parker and Fanning were working on a video-focused product called SupYo, which sounds a lot like Airtime. Whether the partners rebranded their pet project, or someone has their wires crossed remains to be seen. As previously reported Techcrunch, founder and ex-editor Michael Arrington is also an investor.

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