As for its reason for being, it's mostly because I just think it's a bit of a shame how there could be this awesome person down the street or in my city, and I could live my whole life without finding that out. I was hoping to develop a service that might alleviate that.
For example, if you were into some obscure Steam game, you could specify that as an interest and potentially see that someone else near you also shares that interest as well. You then might message them, play together, and then if you hit it off some time down the line you could eventually meet in real life as well.