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A few weeks ago, I wondered what was going on at Wavii, a high-profile Seattle startup that had been operating in stealth mode for 16 months. At the time of my inquiry last month, CEO Adrian Aoun didn’t want to say much.

But now the company — which reportedly spurned a $10 million buyout offer from Yahoo in its early days — is shedding more light on its product path.

In a blog post titled “Wavii: Making Facebook out of Google,” the company writes that it is using “big-data machine learning” to sort through blogs, social networks, photo sites, etc. to create a personalized channel of sorts with information tailored specifically to the individual.

The company hinted at this before, but the most recent blog post offers a few more clues.

“Our product is about simplifying the information that you care about into an easy to consume format,” writes Wavii’s Dan Lewis. “Imagine being able to follow any topic in the world and see specific feed items about it, instead of boring and confusing headlines, in the same same structured way you follow friends’ lives on Facebook.”

That’s a bit like Evri, the Paul Allen-backed company that’s also trying to use semantic search technology to create vertical content channels for users. Wavii explains in its blog post that it is trying to find some room between two of the biggest tech titans on the planet, Facebook and Google.

“In this day and age we should be able to follow everything that’s happening in the world the same way that we follow friends on Facebook — in clear, simple feed items,” the company said.

There’s still no word on when Wavii plans to launch, and when I asked Aoun about why the company was staying in stealth mode for so long he noted that it was because the startup is trying to solve an incredibly complex technical problem.

[Hat tip to Curt Woodward at Xconomy].

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