From their announcement:
Pathfinder Online's journey is just beginning. We've started a brand-new company called Goblinworks to create the game. At the moment, it's owned by myself, Ryan, Paizo, and Mark Kalmes. Mark is one of the top tech guys in the MMO field, and he'll be Goblinworks' Chief Technical Officer. (And we're currently looking for additional investors to help us move forward with Pathfinder Online.)
Traditionally, projects like this are developed in secrecy, with information leaking out in whispers for months before a formal announcement. But we don't want our loyal customers to find out about Pathfinder Online through rumored half-truths; we want you in on the ground floor.
A lot of big picture work has already been done on Pathfinder Online, and it's going to be a bit different from your traditional fantasy MMO. It's going to focus around the characters you create, in a world that will grow out of your interactions, developing the way you choose to develop it. It takes place in the River Kingdoms of Golarion, with our own Kingmaker Adventure Path providing some of the inspiration. There will be an overarching storyline, and dungeons aplenty to explore, but where Pathfinder Online is going to thrive is in the ability of each of you to leave your mark on the world. Do you want to build a castle that you own and control? Go for it. Want to start a town and rally folks to your banner? Do that. Do you want to ally with the neighboring villages to form a new nation—or perhaps wage war on them instead? The choice is yours. Want to become the most feared bandit in the River Kingdoms? The path is available. Want to become the greatest armorer that Golarion has ever seen? All it takes is hard work. If you can imagine doing something in the world of Golarion, we want you to be able to do that in Pathfinder Online.