Microsoft (NSDQ: MSFT) has bought the assets of media/video sharing service WebFives, for an undisclosed amount. The site, formerly known as Vizrea, was founded by Mike Toutonghi, a former senior engineer who initiated the Media Center version of Windows before leaving for startup world.

According to SeattleTimes, Toutonghi in 2004 started Vizrea, a mobile phone image sharing service that never really took off…it was renamed WebFives last year and made into an online video and photo sharing site. The site will cease to exist by the end of this year, as WebFives’ technology gets integrated with Microsoft’s online services. The full letter from the service to its current users is here.

SeattlePI: WebFives/Vizrea raised about $4 million in funding, with some of the capital provided by former Microsoft executives Brad Chase and Ben Slivka.