Interesting. I got the contrary impression: that from top to bottom this looks like a serious company that's going for a sustainable freemium business model, with no intention of flipping. I mean, this isn't a consumer-facing mobile-social-photo-check-in app. It's a platform for developers that has a pretty clear selection of tiered products that includes an introduction tier that's free, for development and testing on shared domain and servers. And they seem to have a pretty clear focus on their customer: developers.