Faculty of 1000, or F1000 is a for-profit company who maintains an actively curated online database of over 100K evaluations of published articles in biology and medicine. Post-publication, articles are culled and scored by their growing list of experts (ie, clinical and basic scientists). F1000 claims to cover at least 3K journals.
This year F1000 began an experimental open source publishing venture (F1000 Research) that departs from the usual model in many significant ways: Instant publication (after a "sanity check" says the editor Rebecca Lawrence), real time revisioning and versioning (sounds like--- wiki), data repositories, links to other articles and open peer commentary are some of the new (or old) ideas that will be tested. Lawrence notes that the scientific community is naturally worried about instant publication and quality control.
Commenters also worry that since this is a for-profit venture, if there is significant adoption of the F1000 Research model, the platform will become private and/or exploitative in familiar ways. However, to quote one savvy commenter "I am much happier with a private company providing a service that makes content open than I am with a private company taking my content and making it private."
It will be interesting to see how this venture fares, and whether it is portable to humanities and other scholarly areas.