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I couldn't figure out from the website exactly what Yobongo is. Can someone help me out?
Yobongo makes it easier to make new connections with people around you. We connect you with a small group of interesting authentic people nearby and you can talk about what you are thinking, what you are doing and the news of the day. You really have to try it to 'get' it.
How is it different than all of the other services that do essentially the same thing?
What does "authentic" mean in this context? How do you ensure the groups only have interesting authentic people in them?
With absolutely no disrespect intended, "you have to try it to get it" isn't a very compelling pitch to get a potential user on board. There are just too many things out there that one could try. There must be a way that you could describe the service more explicitly.
Real-time, location-based mobile messaging / chat
I thought that app was called Loopt.
Brilliant, simple and well executed. No wonder they raised an angel round so quickly.

I'm jealous... and maybe a little inspired.

Terrible name undercuts credibility.
didn't ycombinator also invest in something similar recently? message party or something?