And MocoSpace has proven itself to be more than just fun and games. As Gregoire said, "We recently exceeded 2 billion pages per month and 5 million registered users. Although early in our company's development we used paid advertising on search engines to drive new members to our site, we have since stopped paying to acquire customers. We get them now mainly from word-of-mouth and to a lesser extent, 'carrier deck placement'" [i.e., favorable placement on the main web portal pages of wireless carriers]. And according to its CEO Justin Siegel, "MocoSpace generates revenues from Google Ad packages – including portable banner ads, text ads, and click-to-call ads [seeking to reach these users]."

Will MocoSpace continue to grow? I think it could if its target audience continues to grow and it keeps innovating to get them to spend more time using its service. As Gregoire pointed out, "[We provide a service that's] fun to share with friends, and most of our new customers come from word of mouth. We have always been very focused on providing a great experience to this young 'mobile-oriented' generation that simply prefers interacting on their mobile phone more than any other device. Moco is built explicitly for the mobile environment rather than being Web-browser-based."

Have you tried MocoSpace? If so, what do you think?

Peter Cohan is president of Peter S. Cohan & Associates. He also teaches management at Babson College. His eighth book is You Can't Order Change: Lessons from Jim McNerney's Turnaround at Boeing. He has no financial interest in Mocospace.