The funny thing is "the majors" are buying these guys up, (or trying to)... but I think it's like shoveling sand against the tide.
Look at what happened with Instagram. It got it's 15 minutes of internet fame, sold out, then quietly faded back into the web.
Add a few bells and whistles, and 10 million people (literally) will jump ship.
China's Instagram and Other Tech Startups Look West Instagram, the photo-sharing app bought by Facebook (FB) last year, offers special effects that can give pictures a weathered black-and-white cast or retro tints. In Beijing, Xu Chaojun’s PaPa app does that, too. But it also lets users add voice messages that can sound like robots or cats. PaPa notched 10 million downloads in five months from iPhone and Android users; the company released an English-language version, Wave, on iTunes on March 10.