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Because this is an affront to Beluga, not so much a mobile play - this is a social play.

Though I think that the marketing on it is a little week "Where the party at?!"

How do you mean?
Group txt is not about mobile as much as it is social. It is social activity that is enabled by mobile - the data you get from it is more informative about how groups communicate.

Beluga being bought by FB shows that enabling that group communication via enhancing the txting experience is important to further enabling social interactions.

Google may or may not have a new social play, but if it does - and it lacks tools that allow more fluid communication amongst social groups, then it will fail. This indicates that they may be paying attention that the single most important aspect of social nets is providing communication tools over the varied mediums we all now take for granted.

You simply expect to be able to share pics, video, text files etc with whomever you want. And if your relegated to serial communications -- you will innately know that is a limitation and will be less inclined to utilize that service heavily.

This is key to any hopes of scaling any social offerings.