The document discusses the evolution of cellity's Address Book application, from version 1 to version 2.0. Address Book 2.0 integrates communication features like email, messaging, social networks and voice calling. It allows users to manage all their contact and profile information in one central place, connect to social networks, and send messages across multiple platforms. Address Book 2.0 works across many mobile and desktop platforms and with major social networks and email providers. The business model discusses generating revenue from advertising, premium subscriptions, and fees from mobile operators. Future plans include integrating additional features into Address Book 3.0.