I'm guessing the original founders of photobucket sold it to some clueless investor with dreams of becoming an internet billionaire.
I am reminded of the time Unisys decided to sell licenses for the GIF format for $5,000 and sue anyone who used GIFs without paying. Some junior executive with a calculator no doubt thought he'd be up for a big bonus. Instead, he transformed a once widely-adopted standard into a historical footnote.
These days I use
QTRLQ.org for posting images. It's a simplified front end to Imgur.