But it looks like they’ll make sure the name, or something like unto it, goes to good use. Valleywag reports that Yahoo will launch a new “lifecasting” service called Yahoo Live.

According to Valleywag, Yahoo posted the following announcement on their intranet, Backyard:

Yahoo! Live is social TV, where you’re the star! Create your own social broadcasting experience. Start by broadcasting yourself from your webcam, invite your friends to chat with you, they’ll go live with you, and you’re all on candid camera!

. . .

We know it’s easy to get carried away once you’re on camera, but a few things to keep in mind about Yahoo! Live -

– This is an internal alpha release (Yahoos only!) so it’s confidential.

– The service is still in development and may undergo outages, so any data saved may be lost prior to public launch.

– The service may not be accessible if you are on a wireless connection, due to security concerns. You can work around this by setting your browser to go through a proxy server.

Obviously someone broke the confidentiality. The announcement states that the product won’t be released until early next month, though it is currently open to internal testing.

What do you think? Can Yahoo give current lifecasting leaders Justin.tv and Ustream.tv a run for their money? Or are they hopelessly stuck in the past?

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