This is the main product of the company Carticipate.

Carticipate
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Carticipate is the first location based carpool application on a mobile platform and is available on the iPhone. The download is free and allows users to indicate where they are going and when, broadcast this information, and allow others in the same area (with iPhones) going in the same direction to find each other.

The application is currently geared for those who want to ride share or carpool dynamically within their own small groups, friends or family since the number of people on the network is still limited.