The latest entrant into the cloud-based phone system service arena is a bandwidth.com company called Phonebooth.

I’m liking what I see thus far and can’t wait until the private beta is opened to the rest of us.

The service is divided into two offerings. Phonebooth Free which is perfect for small businesses, freelancers and independent professionals and provides all the functionality folks in that space space need:

• A free local phone number
• 200 free minutes per month
• Custom call routing to any phone
• Extensions and voicemail expandability
• Read voicemail in email (meaning you get a transcript)
• Dynamic website widget (very cool)

When your needs expand, you can switch to the Phonebooth OnDemand service that offers a full-featured office phone system with support for HD desk and conference phones. So all the features of Phonebooth Free plus:

• Unlimited local and long distance
• Conference calling
• Detailed call reporting
• and a few other tidbits all for $20 per person, per month

Phonebooth.com is at SXSW right now and making the rounds there with media, analysts and enthusiasts (I will never miss another SXSW again !!)

If you’re in need of a service like this I’d recommend checking them out [here]. I can’t say precisely where this service differs or exceeds in functionality from Google Voice or Ribbit – I’m waiting to be let into the beta – hint, hint… When I do get in I’ll do a product comparison.

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• Phonebooth.com – Implementing A Cloud Phone System (killerstartups.com)