What is Bookshout!?

It's amazing to me all the social networking websites that keep popping up. I've recently come across BookShout!, which sounds like another interesting way to connect with other readers to discuss books.
 
According to the BookShout! website:

BookShout! is a social reading application where users can create reading circles, share reading notes, and invite others to join in on reading a particular book. BookShout! is a cross platform application which runs on iOS, Web, and Android. The user can save and access notes and books across each platform.

 Watch the following video about BookShout!

Anyone out there using BookShout!? How do you like using the BookShout! application?