Wikipedia: "TextDrive is a managed webhosting company created by Dean Allen (creator of Textpattern, a weblog/content management system) and Jason Hoffman, designed primarily (but not exclusively) as a hosting service for Textpattern-managed sites, similar to Six Apart's Movable Type-based TypePad service. Allen was able to raise just under $40,000 in startup funding in just over three days. The investors, also known as the "VC 200," were an assortment of web developers, designers, and bloggers. Allen chose this means of raising capital as a community-funded alternative to traditional venture capital."
via Steve Pilgrim.