reqoon.com is basically an online, hosted requirements management and engineering solution built upon ruby on rails with all the fancy things like ajax, rest, api, versioning, baselining, tracing, word and pdf export built in. It doesn't compete with full server-/client-solutions like borland caliberrm or teleglogic doors etc, but rather meant for small to midsize development and product management teams that are distributed globally but still need to access their common requirements base. It's partially influenced by the v-model xt / cmmi process-models, but I only took what I needed myself for my current projects.
As a side-note: that's what I do as my day work - providing help and consultation to small to corporate size companies that are trying to improve their management, development and engineering processes.
It's a side-project for justbe.com and pricewi.se so it has a somewhat mediocre priority for me. Whoever is interested can contact me and get a private tour...
Meanwhile, just as with all my other projects, you can head over to the blog - I might post some information about the project there every now and then.