Which is kind of amusing and impressive when you think of it. I mean, Movable Type powers, say, 50K weblogs at most, given that Google only shows 62,600 sites linking to movabletype.org... but it *IS* perhaps the best software out there for weblogs... and yet, they give their software away. They don't have a product. The only revenue they get is basically what people want to donate to support the project.
So, yes, they have some cool code, but what is their product for this VC money? TypePad -- a centralized service that stores weblogs. A service which doesn't exist yet. Which hasn't attracted any users yet. Which hasn't had to deal with scalability yet. Or security. Or abuse. Or general drama.
I'm not saying this to demean what they are doing... Ben and Mena are good, skilled people who give a rat's ass about what they do, so I expect that TypePad will kick butt in a dozen different ways. I simply put this out as an example of how seriously some people are taking weblogs nowadays. Very impressive!