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I can see a lot of utility in this tool. I don't care about quotes for quotes sake, but I could totally see this being useful as a tool for saving snippets.

No idea how that's a business, but you can figure that part out.

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We actually started this project at a Hackathon at Facebook HQ. We came up with the name via a quick domain search. I agree with you that quotes aren't necessarily the best term to use - maybe text snippets would be more accurate? We want to be a collection of all the interesting things people read on the Internet.

Try Tumblr for this, it works well.

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