Looks alike early adopters, adopters and venture capitalists are going crazy over color (coulour, I will get to that in abit), a new location based photo, video sharing service that started yesterday.
Color uses mobile apps in iPhone and Android (so far) to snap and share photos in a particular location, automatically with others. The others is decided by color, not you. So make sure you do not send up private photos.
Color in itself is a very simple to use as is the idea. There is no setup, you download the app and run it, enter your name, take a photo of yourself (or your dog) and you are good to go.
Your photos sent via color get associated with other users based on your location activity etc. Like if you are at a concert, and if many people start sending photos from the concert, color will create a group album from the photos everyone send in from that event. Color can dig a little deep in to information by taking into account the content of your pictures, the orientation of your device in relation to other devices using the service and similar signals.
The surprise is in the funding, they got $41 Million even before they set foot in the public. Color also spent closer to $500,000 securing the color.com and colour.com, more than many startups dream of earning in their life time. Color them up clour, please make mine green.