DEMO.com > 3jam

3jam

Conference: DEMOfall 06
Market Segment: Consumer Mobile
Funding Details: Series A: Venture funding from New Enterprise Associates
Competitors: No direct competitors
Product Description: 3jam is a group text-messaging service that makes it fun and easy to coordinate and connect with people from any mobile phone. Unlike regular text messaging, 3jam lets you send a text message to any number of friends at once, have everyone know who got the message and have replies go to everyone—all for the price of regular text messaging. the result is increased text-messaging volume and, therefore, revenue for carriers.
Market Opportunity: 3jam is for anyone who uses text messaging, starting with 5 to 25 year olds. A recent Pew Internet Project report shows nearly two-thirds of teen owners of cell phones use text messaging. According to Gartner, SMS generated $70 billion in revenue for carriers worldwide in 2005, with a huge gross profit margin of more than 90%.
DEMO Says: SMS messaging is finally taking hold in the U.S. market, and 3jam is doing more than its share to help grow message traffic. 3jam turns a single SMS message into a multi-user chat channel. the service delivers tremendous convenience—and cost savings—to multi-party messaging, and it will no doubt be a boon to the SMS-crazed youth demographic.