Tried to get a thread going a week or so ago when this was at $30M (!). Paste of my original comment there:

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The DAO is a decentralized "venture" fund based on the Ethereum blockchain. It is meant to invest in projects and collect rewards for investors.

The amount raised 9 days into the fundraiser already makes it the #2 largest crowdfunded project. https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfu....

More on DAOs: https://www.ethereum.org/dao

It's at 110M now, and will very likely take the #1 spot for largest crowdfunding within a few hours.

WSJ is running a story as well: http://www.wsj.com/articles/chiefless-company-rakes-in-more-...