Can Web 2.0 stars get a second chance at success?

Some of Web 2.0’s brightest talents are returning with new projects, from revitalized bookmarking sites to fresh online games. But the challenges they face today are different than back in 2005, because the internet is radically changed — not least because of Facebook. Can they succeed?

Stewart Butterfield’s Tiny Speck Gets $5M From VCs

Tiny Speck, the online game company started by Flickr co-founder Stewart Butterfield has raised $5 million in new funding from Accel Partners and Andreessen Horowitz. The new cash comes on top of $1.5 million it raised from Accel Partners and other angel investors.

Flickr Hit Hard by Yahoo Layoffs

Updated: Yahoo (s YHOO) layoffs have started and they seem to have hit the Flickr team. Many engineers from the service have been either laid off or are leaving on their own. Rev Dan Catt, Ashot Petrosian and Neil Kandalgaonkar were amongst those who tweeted about their exits. Catt, for instance, is moving back to UK. I am told Cal Henderson, Flickr Architect — a rock star developer — has also left, though I have not been able to confirm that. His name is missing from Flickr’s About page , but I don’t want to jump to conclusions. [digg=http://digg.com/tech_news/Flickr_Hit_Hard_By_Yahoo_Layoffs]

I dropped Henderson an email to confirm. He emailed back this morning. “I have left Flickr/Yahoo. I don’t have any plans yet, besides playing lots of video games and enjoying the san francisco summer,” he wrote back. Kara Swisher says he’s is working with Stewart Butterfield, co-founder of Flickr, on a new stealthy startup.

Meanwhile check out his presentation about scalable web architectures. Flickr was spared from cuts for a long time but in recent months has been slowly trimming its staff. Frankly, cutting the Flickr team is a bit of a head-scratcher: That group is one of the few pockets of future-thinking tinkerers at Yahoo, especially when it comes to building new media experiences around “social objects” such as photos.

Update#2: We’re hearing that further changes at Yahoo’s Flickr are going to be announced shortly, including exits of some senior/director-level people.

Flickr Founders Leave Yahoo

Flickr, one of the few acquisitions that Yahoo (NSDQ: YHOO) has not messed up, at least on the product side, is now seeing the two co-founde…