This is similar to Dodgeball which was acquired by google..18 member company in bay area.. Is there no scope for such service in India ?

clipped from www.loopt.com
loopt is a mobile service that connects you to the people, places, and events around you. It's a closed network meant to be used with friends you see and speak to on a day-to-day basis. Many times a day, your friends are nearby and free to hang out without you knowing it. loopt makes sure you never miss that opportunity for a spontaneous meet-up.
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