10/19/2012 09:26 am ET Updated Dec 19, 2012

Airtime, A Pedigreed Startup, Is Tested

It sounds like a recipe for success for a new start-up: Two famed entrepreneurs, tens of millions of dollars in the bank and endorsements from celebrities like Alicia Keys and Jim Carrey.

But Airtime, the much-hyped video chat site created by Sean Parker and Shawn Fanning, the two behind the music sharing service Napster, has turned out to be far from a sure thing.

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