Here’s some news that will bring back memories: eBaum’s World, once the premiere site for funny videos online, relaunched this week, hoping to attract viewers and content creators in search for an alternative to YouTube(s GOOG).

The new layout not only makes the site look like it finally arrived in the 21st century, it’s also a final step toward leaving its troubled past behind.

eBaum’s World was launched in 1998 by Eric Baumann and quickly became the go-to place for teenage humor and viral video fun. However, the site also garnered a reputation for hosting a number of infringing videos. In 2007, it was bought by a company called Handheld Entertainment, which was initially financed by Larry Page’s brother Carl Page.

Handheld had big plans for integrating eBaum’s World with its ZVUE mobile video player — but those eventually fell apart in the midst of technological and financial challenges…

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