We used to use hipchat (campfire clone) but it was hard to follow lengthy conversations and favorite details for later. Flowdock for our uses is a zillion times better and can integrate with basically anything.

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.