Caterina Fake, founder of Flickr and Hunch, has announced her latest stealth startup on her blog.

In a statement issues on her blog Caterina stated “I have a new startup! We are building something consumer-facing, something social — all the things I love best — for optimal founder-market fit!. It’s crazy times in the Valley and while I prefer doing startups when the going’s tough, money is scarce, and engineers are unemployed — the best time to start a company is always two years ago, and the next best time is now. So now it is.”

The new startup will be funded by investors at True Ventures (especially Jon Callaghan & Tony Conrad, rockingest investors this side of rock), her own fund Founder Collective (with Dave Frankel, Eric Paley, Chris Dixon, Zach Klein, Bill Trenchard et al.), SV Angel (including David Lee and Ron Conway, Godfather of the Internet), independent angels and friends and family.

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