I'm really, really, really hoping this is a collaborative editor with Google Docs-like functionality (easy revisions, commenting, and suggested edits) that embraces Markdown (pseudo-preview while writing, full preview toggle).
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@tnorthcutt It most likely will be/is. They purchased Hackpad (which is what you describe) in April 2014, I think.
Side note: Hackpad said they are going to open source their product.
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Whisky16