Ginzburg, left, and Cortesi

Founder's Co-op didn't have to look too far for its latest deal. The Seattle investment group is pumping $250,000 into Untitled Startup, the early-stage social media tools company which for the past several weeks has been sharing office space with the Founder's Co-op.

Led by Aviel Ginzburg and Damon Cortesi, Untitled Startup should already be a familiar name to TechFlash readers. The two entrepreneurs have been writing occasional guest posts about the experience of starting a new company. (Ginzburg says another post on the funding will be coming in a few days).

In an interview, Ginzburg said that he and Cortesi had considered taking on consulting gigs in order to pay the bills and bankroll the startup's future product plans. "We don't really have Microsoft employee runway," he said.

After discussions with the Founder's Co-op, Ginzburg said it made more sense to pursue outside funding. "Everything sort of happened organically," he said. "It really seemed like we were already in bed together."

Along with its quirky name, Untitled Startup is pursuing business in a unique way.

You can think of the project like a clearinghouse for social media ideas, with Ginzburg (a former developer at Appature) and Cortesi (a former entrepreneur-in-residence at Madrona) looking to incorporate the community into what products or services it builds. The company has created what it calls a user feedback platform -- akin to Starbucks Coffee's Web site MyStarbucksIdea.com -- which encourages individuals to submit ideas or suggestions.

Ginzburg said they plan to pursue the best ideas, and tweak those products with the help from the community. In a way, the platform could turn into an online greenhouse for new social media ideas.

"It is exciting, but it is a risk," said Ginzburg, adding that they are contemplating multiple business ideas around the model.

"Think of it as a customer feedback platform on steroids, where the product is the company itself," he said in a release. "Our goal is to build simple, useful, tools that people need, and the only way to achieve that is to lift up the curtains and get influencers and potential customers involved every step of the way."

The company has already launched one product under its umbrella: RowFeeder.com. That product streams Tweets directly into a Google Spreadsheet, with the company saying that more than 1.5 million Tweets have been processed since the site went live a few weeks ago. Users of the product include public relations firms, non-profit organizations and media companies.

The investment in Untitled Startup marks the second deal in the past two weeks for Founder's Co-op, which is led by Andy Sack and Chris DeVore. Last month, they backed Portland-based Urban Airship.