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This iPhone application Loopt tracks your location and shares it with your friends who have the application on their iPhone. I really like the idea and have a 10 friends who also use it so far. It’s very accurate and will show each friend on a map or in a list displaying what streets they’re on and how far they are from you. Each user can customize their profile with a picture as well.
From each friends profile page on Loopt, you can call, text, ping, comment, and my favorite, get directions to their location. This is where I see this being the most useful. Essentially, you’d never need to call and have someone give you directions again. You would simply look them up on your Loopt application, find their location, and have Loopt map the directions to your friend.
You can change your “What’s Up?” message to let friends know what you’re up to similar to a “status” update on Facebook which you can set to link up with each other. Under the settings tab, you can set your location settings to one of 3 choices:
1. Share with all of my friends
2. Share with some friends
3. Hide from everybody
One feature that I don’t use on Loopt is Loopt Mix. This feature lets you create a custom profile to connect with Loopt users who aren’t in your address book(stranger), who may share similar interests. Loopt doesn’t share your phone number or your exact location. You have to click on “I Accept, Turn ON Loopt Mix” to enable this feature.
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Source: http://ezinearticles.com/?iPhone-Application—Loopt&id=1739369
