A startup company, Rabbit, has launched its closed beta for a new video sharing and chat service that could revolutionize instant messaging.

MacRumors reports that its primary selling point is a feature that allows users to stream video directly to an unlimited number of friends in a conference.

That means you can browse Youtube, watch shows on Hulu or Netflix, jam to music, or share files and photos with your friends-- in real-time. This function recalls LiveStream and JustinTV which are are similar, though clunkier and v-chat-less, in-browser video streaming services.

The interface looks simple and intuitive. People are sorted into rooms and presented to you, friends-first. Within each room, users can have public conversations which are joinable by anyone, and private conferences with a select group. Users can also create and customize their own rooms, according to Rabbit's promo video.

Much like hanging out with friends in real life, Rabbit aims to make browsing the internet and consuming media a social experience. If you've ever wondered whether or not someone was actually watching that video you sent them, Rabbit could potentially remove all doubt."There's no need to feel like you're by yourself online anymore," says Josh Constine, of TechCrunch. He previewed the app in December.

The application's target demographic also appears to be teenagers, which bodes well for the next generation. Students working on a group project can theoretically put on a song and crack down with the file-sharing feature, though the potential for distraction is bound to be great with video-sharing at their fingertips.

Notable among the names working on this project is Gregory Fishbach, who is known for founding Acclaim Entertainment in 1987 and serving as its CEO until it filed for bankruptcy in 2004. He's responsible for games such as Mortal Kombat, NBA Jam, Turok and others.  Rabbit faces stiff competition from other notable video chat services such as Google Hangouts, Airtime, Skype and Facetime, among others, but is notable in that it is meant to be left on in the background, rather than fired up only on demand.

Unfortunately for PC and Linux users, this app is only available on OS X 10.7 or higher, though other platforms may emerge once the application has been refined and finalized.

Rabbit's blog page is empty, but the company is active on Twitter and Facebook.