I submitted my resume and cover letter online and received a response from the product manager the next day. The initial response requested code samples (both client-side and server-side code) and included a programming exercise.
After submitting my code samples and completed exercise, I waited about a week before being asked for an interview. (Since the development team is completely distributed, all interviews were done over Skype.) I then had a group interview with several of the developers. The interview covered the usual questions about my background and resume as well as a review of my exercise. I came out of this interview with the impression that I was likely to receive an offer.
This was followed a few days later by a final one-on-one interview with the CTO. This was largely a "personality match" interview, consisting of discussion of my background etc. At the end of this interview, I was essentially told to expect an offer.