Is this solving some problem that Hipchat, Campfire, Slack, Kandan, Unison, etc. don't already solve?
[1]: http://en.wikipedia.org/wiki/Internet_Relay_Chat#Challenges
I guess it is a massive market and thus there is a lot to go around.
Asana is also amazing
I wouldn't compete in either of the spaces because it's so competitive and the apps are better than they were 5 years ago. 10x better would require so much cash and time, for the possibility of not capturing enough market to be viable.