Company Review: Jott

Have u heard of Jott?. This web 2.0 company provides a cool service of converting voice messages to text which is then sent to you by sms or e-mail. The duration of the voice message is currently limited to 30sec. Question is will this fly?

Some key considerations here :

Target market:
The company claims that most people on the move with no time to 'jot' things find this service super useful. Question is how big is this market? Also is it convenient enough to get them to switch from scribbling it down on paper or putting it on their treos, blackberries, outlook?

Privacy:
Considering the service converts voice to text and Jott currently uses cheap transcription labor (out of India i guess), not sure how many people will find that comforting. They do promise anonymity, but can you take their word for it? Also if the message was a brilliant idea, phone number, secret code who would want to use Jott for that?

Revenue:
Jott plans to employ the web 2.0 fav advertising model at this point in time. They will move to a premium model once they have found that niche. Not sure if the 'niche' will generate BIG bucks to keep their investors interested.

Thinking through the idea, Jott gets my vote for innovation and coolness. However like 99% of all silicon valley start-ups, their challenge will be to convert that hype to $$$ and i'm not so sure if the idea is good enough to be part of the '1%'.