Anyone that has worked for, with, or anywhere near "the man" should dislike the word ping. It's too easy to immediately associate the word with a bothersome, middle aged project manager saying, "Let me look into that and I'll ping you." Why can't you just say email? Why?
We begrudgingly admit that in the case of this new iPhone app, the name is rather fitting. The application allows free registered users to message each other via push notifications over the data connection, rather than SMS. This is rad for a number of reasons. Most obviously, users of Ping can potentially avoid paying AT&T's reprehensibly priced SMS plans. It also allows the opportunity to communicate with people who have no SMS plan at all, such as complete freaks or friends overseas.
One thing Blackberry has always had over iPhones, and that converts deeply miss, is Blackberry Messenger. It's real time, it's free, it's easy; it's texting on steroids. Ping isn't quite there yet, but it's a step in the right direction.
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