Project Comet will launch in 2006 and will combine the publishing power of TypePad, the community aspects of LiveJournal and the years of insight garnered from Movable Type. Project Comet is focused on giving people the ability to record their lives, express their interests, and pull together their friends and family.

Comet will be a hosted weblogging solution with a true AJAX'ified interface.

Link : Project Comet
Link : Techcrunch