The New York Times Company appears to be one of the top investors, which could foreshadow a bold move into user-generated news and reader-customizable content.
Staci Kramer at Paid Content writes:
The mission is to gather and organize news in ways that are most relevant to the user. That could be by event, topic, author, geography or other factors. Source pages that show what a journalist writes about or who is quoted are part of the mix. RSS plays an important role. In an interview, [Upendra] Shardanand [founder of Firefly] said the distributed platform—designed for use across multiple sites—will be open “to a degree” with options for revenue sharing and licensing for those doing a heavy volume. “Anyone can take what we’re building and add it to their own site … Obviously, we have to make some revenue.”