"So far, Kraus has boasted that JotSpot can do everything Socialtext can, and more. JotSpot allows users to build their own applications on top of the basic wiki software, for example integrating data from other sources such as Microsoft excel or e-mail.

Socialtext -- even Mayfield admits this -- has remained focused on improving the basic wiki software. Mayfield also says Socialtext's open-source software allows users to build their own applications on top of Socialtext's platform. He questions whether JotSpot's strategy of building out applications quickly before it has adequately tested them -- or has enough real customers -- is prudent.

A big question for onlookers, though, is whether JotSpot is making inroads because of superior amounts of venture capital. JotSpot has added quickly to its workforce -- having caught up to Socialtext within a year, also at 10 full-time employees. Additionally, JotSpot has hired at least a dozen more specialists -- not on full-time payroll -- to build out special projects. Kraus believes that venture capitalists lend his company credibility -- a sign of trust in the company's product, but also a sign it will be around for a while.