James Yu announced the launch of BuzzShout today, a web 2.0 review site. I can definitely see people getting involved with this website and submitting a lot of good reviews (as does Mike Arrington).

Anyone can submit a company and then BuzzShout users submit reviews of that company’s service as well as rate them on a 1-5 star scale. All of the buzzwords are here: tag clouds, RSS feeds; surprisingly there is no search yet. BuzzShout has also fallen short on the edge aggregation front - it’s not there and this is a perfect example of where it could prove useful.

Steve Rubel likes the idea as it’s a way to see beyond the marketing and get an accurate review of a company’s services. Unfortunately, with the lack of reviews as of now it is rather easy to make any company an all-star, but this will quickly change as more people submit their own reviews.

I am curious, as are others, as to what the business model for this could be. I’m sure Pete Cashmore would suggest a revenue sharing model which I believe could work fairly well on BuzzShout.