I applied through an employee referral. The process took 2 weeks. I interviewed at Federated Media Publishing (Boulder, CO) in Mar 2012
Interview
Phone interview - mostly to make sure you understood the commission set up, could take an educated guess at what the company did, and that you weren't a total flake.
In-house interview - just to make sure you were competent enough to tie your shoes, use a computer, and had initiative enough to be successful.