Currently Recrio is a free web based image editor. While it does not offer all the features of a program like Adobe Photoshop, it allows you to do resize,crop, add text and filters to your images.
Recrio is currently being developed solely by Adrian Wisernig. It's built with Ruby On Rails, using the MooTools javascript library, ImageMagick for the image creation and hosted by SliceHost. It also uses the handly little plugin MooRainbow.
In the future, I hope to add more features, improve usability and make Recrio a worthwhile alternative to desktop image editing.