Well it looks like FRING got there first. You can now do Group Video calls on your iPhone or Android, with up to four friends being displayed on one video screen. You can bet there are some other large companies that would love to have had this... or might make a try for "acquiring" the company.
One of the big words on this fantastic app is FREE! First off, the app itself is free. The four way video conference calling is free. With Fring you can make calls to other Frings users worldwide, for free. Also, live chat is... free!
Fring is a freemium product - meaning the app is free but there are some paid add-on features available. The rates for using Fring to make worldwide calls is very competitive! (but again, free to other Fring users)
Use this app on your iPhone, iPod touch, iPad, Android or Nokia device!
Fring Kicks some serious Butt!