Everyone is focusing on the $41 million that Color raised, but thanks to Tanomsak for pointing out that it is very close to the Social Camera I was asking for in June 2007. Worth noting.  

So there's a use-case for this product that they're not promoting -- when you're traveling, now you'll be in the pictures you bring home, if enough people around you have this app.  

Also you all should thank me for preventing a nasty patent, although it's pretty likely the company has already filed an application, don't you think? But there's the product described in a blog post four years ago. Makes it hard to claim it as a non-obvious invention.  

PS: To people who say you have to be in your 20s to understand today's technology, here's some pretty convincing proof that's not true. In 2007, I was 52 years old, when I had this $41 million idea. If you're only betting on 20-somethings, you're missing out on a lot of goodness.