Still a newly launched service, Color is a photo-sharing app that enables users to share media only with contacts located within a given distance from them. While the concept is a very simple one, Color was an extremely high profile launch and is already has a lot of funding, as well as an “all-star” team and an impressive investor portfolio. Color is also establishing new expectations for the mobile app industry, and we can expect similar apps to launch – among the first being EventJot.

EventJot is a free iPhone and Android app which allows users to sync events to Twitter and post pictures and comments in real-time. The only requirement to use the app is a Twitter account, and events posted online get their own unique address. Just like Color EventJot also leverages a very simple concept, while providing quite a bit of handiness:

From their official statement:

“– Everyone contributing means that events have more photos, more comments, and more participation

— Automatic posts to Twitter means that messages get out in real-time

— Also available on Android and the web so all your friends can participate”

Indeed, the launch of Color will probably spur more launches of similar apps, but overall, a great deal of investments and acquisitions in the mobile location-based services space is another trend we’re seeing these days.

One major company who acquired a notable player in this segment is non-other than eBay. The retail giant has recently announced its deal to acquire location-based service WHERE. The deal is expected to finalize by the end of Q2 this year, and while few details were made public so far we do know that eBay is planning integrate WHERE with PayPal.

Another major company who made such an acquisition is Groupon, who acquired the operator of LBS app Whrrl. Pelago will most likely be integrated and somehow use to add to Groupon’s big data analytics system.