GroupMe and the rise of group everything

January 20, 2011: 2:31 PM ET

The group texting app is cool, but even the founders know it's less about the SMS and more about the power of groups.

By Daniel Roberts, reporter

GroupMe on mobile devices

GroupMe on mobile devices

If you've ever wanted to text a group of people all at once, you suddenly have a host of services to choose from. Apps that allow you to create a text message group have erupted in recent months, and venture capitalists have taken careful note of the interest users are showing.

The most prominent of the bunch, GroupMe, raised a hefty $10.6 million in Series B funding this month from Khosla Ventures and other investors. This is on top of an initial $850,000 in August from betaworks, SV Angel, First Round Capital and Lerer Ventures.

The fact that an idea born in May obtained over $11 million in funding by January shows that investors are betting big on group texting. And a number of other startups for the same function now exist as well, begun at various times in the past year. Among them are Beluga, BrightKite, Rabbly, Fast Society and textPlus. More

  • SXSW's location-tagging smackdown

    Foursquare and Gowalla are squaring off for the title of top tagger at Austin's annual tech-fest.

    By Caroline Waxler, contributor

    The annual South By Southwest Interactive conference kicks off Friday and the advance buzz is all about a fierce competition between two location-tagging social networking companies: Foursquare and Gowalla. (Disclosure: I know the Foursquare co-founders.)

    These services help you locate where your friends and contacts are at any given moment -- perfect MORE

    Mar 12, 2010 9:24 AM ET
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