In a nut, Quote.fm is sort of like a social Instapaper or Pocket “read later” service, centered around highlighting your favorite quote from each story you share. Add friends from Twitter and Facebook, or discover new people from Quote.fm’s handpicked list, then follow what your friends read and recommend. When you find a good article, install Quote.fm’s bookmarklet to highlight your favorite quote, then share the quote and link with your own little web reading circle.
Now that Quote.fm is an iPad app, complete with discovery and offline reading tools, I’m much more interested. The one thing that bugs me, as with most of these services, is that Quote.fm doesn’t seem to have much of a business model. The website and app are both free, but still interesting.