Wavii appears to be a combination of automated “web content curation” [1] and so-called “text synthesis” [2], which would make it related to both Summify [3] and Automated Insights’ [4] (formerly StatSheet) [5] STAT.US [6].
[1] http://www.quora.com/Web-Content-Curation
[2] http://www.quora.com/Text-Synthesis
[3] http://www.quora.com/Summify
[4] http://www.quora.com/AutomatedInsights-company