I'm confused. If Picwing was acquired, why is their site still active? Was something licensed?

UPDATE: from http://techcrunch.com/2011/08/22/a-woman-a-cupcake-a-bank-an...

PicPlum acquired the assets of a previous Y-Combinator company PicWing, and took over its printer relationship and initial user base. The company currently has $150,000 in funding offered by SV Angel and Yuri Miller to all Y-Combinator startups earlier this year. The founders say they are beginning their fundraising now, and will be looking to hire soon.