I wonder if they're going to try a revenue model that doesn't use ads, I can't see ads fitting the flow of the site overly well if they do go for them.
Selling what data though? There's probably some analytics, but enough for a VC to be interested? There's two outcomes, they're either bought by a bigger network and make the VC's happy, or they take find a revenue model and try make the VC's happy.
Curious to see what happens, if nothing it's been an interesting experiment for the web.