I wish this company well, and perhaps they'll be successful, but I don't think they've nailed down some ultimate formula for ranking and hiring programmers. This system sounds very easy for low-quality programmers with lots of time on their hands to manipulate - you sign up with a throwaway account with some fake name, get the list of questions, take your time searching for the answers online, and then sign up with your real information and have a carefully prepared way of typing out answers that get you high scores. If this achieves any measure of traction, you can bet that this will happen a lot.

This isn't an easy problem to solve and is something that companies have been struggling with for a long time, so no disrespect intended. But based on my understanding of how this works I don't think it will be very likely to yield great results.