Doubletrack is the company behind Me2day, a Twitter-like microblogging/social presence service. (My coverage on the service is here.)
They announced a new service called Frunn Reader. Frunn comes from "Friends", "News", and "Union" and the word also happens to mean 'blue' in Korean.
Frunn Reader is in essence an RSS reader that is apparently connected to Me2day buddy list - think the RSS reader for your Twitter "following" list.
The idea is that one the primary roles of an RSS reader should be to allow you to get a stream of updates from your friends' blogs and microblogs. In this sense, I think the Frunn Reader also shares its philosophy with Google's Social Stream initiative.
Frunn Reader is in closed beta and is looking for beta testers now.
Building a lightweight web service quickly and spinning it out with a snazzy brand on it seems to be the corporate style of Doubletrack - which resembles that of Obvious (the maker of Twitter). This new (well, not so new by now) style of web service development doesn't seem to be widely spread in Japan as yet - outsourcing companies are still asking $500,000 and 6 months to build a consumer-facing web service. What do you build, a car?