There are a ton of different social apps and websites out there. Most are pretty bland and more-or-less content driven. However, we just came across a socialesque app that is very focused on one particular thing. TAB IT is a, “social IOU tracking and trading app.”¹ This is a pretty interesting concept. Here is a good quick description of the app:

TAB IT (patent pending) can be used to track any IOU and split bills automatically, without ever having to take out your wallet.  Whether you’re hitting the town with friends, on a business trip with colleagues, or planning a family vacation TAB IT allows you to easily keep track of your debts so that you always know what is owed to you (or what you owe).²

The app otself has been around for a few months. However, the team encountered a few bugs and other issues. Thus, they have taken to Indiegogo to raise funds to completely overhaul the design of the app:

6 month ago we created and patentedTAB IT, A really cool and new debt and credit tracking system (full description below). However we made some mistakesin the UI leading to a bit of userfriendliness issues (sign up process annoying). Also a tight budget did not allow a thorough marketing strategy so people did not get how amazing this app is, how it simplifies your life and relations, how it puts you in a condition where you do not need to think about any money interactions with your friends but only enjoy their company. TAB IT works in the background to have everything clear, precise and honest.³

Here is a good look at the functionality of TAB IT: