Bantam Live is project management with social network

I found this gem when i cleaning out web applications on my beta list ,my first impression this looks like another social networking site like facebook but i m wrong, this is more like a project management web applications with networking feature with your colleague and client.

Bantam live is like create a smaller facebook for you and your company colleague and management the project with activity stream, example you can upgrade your status so that your colleague know what you are doing ? ( imagine Yammer or Twitter ) then you can create event or task , all these info will be list on your activity stream and the person that you assign to. Other then these standard feature, Bantam live include CRM feature that can show which project your company working on related to which contact ( of course you can leave some comments on this contact, so that your colleague that handle this project know what to avoid ).

Personally i like this idea , the rest is really depends on how they marketing this product,base on compete’s data it seem like after the techcrunch’s post , their traffic is going back to normal, we will see how they going to hit the sweet spot again.