diff --git a/README b/README
deleted file mode 100644
index 3014a68f0..000000000
--- a/README
+++ /dev/null
@@ -1 +0,0 @@
-Coming soon!
\ No newline at end of file
diff --git a/README.md b/README.md
new file mode 100644
index 000000000..19347de76
--- /dev/null
+++ b/README.md
@@ -0,0 +1,11 @@
+# Hobo
+
+## Contributing to Hobo
+
+To hack on hobo, you'll need [Wycat's Bundler](http://github.com/wycats/bundler) which can
+be installed with a simple `sudo gem install bundler`. Afterwords, do the following:
+
+    gem bundle test
+    rake
+
+This will run the test suite, which should come back all green! Then you're good to go!