Complex sentence: The service launched in May 2004, and as such is one of the oldest social bookmarking services that is still operating independently, not run by a large publicly traded company (del.icio.us was acquired by Yahoo!, and Furl was acquired by Looksmart).
Split into simpler sentences: The service launched in May 2004, and as such is one of the oldest social bookmarking services. It is the oldest such service still operating independently, not run by a large publicly traded company (del.icio.us was acquired by Yahoo!, and Furl was acquired by Looksmart).