This paper analyzes new business formation connected to the use of established mobile technologies and associated services. The purpose of the paper is to describe how a set of alternative business network situations can emerge when established wireless application technologies are exploited and new value is created and new business ventures are formed. A set of short cases describe how new business can be created based on established SMS applications and services. The paper discusses central aspects of the formation of new business ventures in networks. Here, focus is on opportunities to create value based on the exploitation of existing technology. The technology is used in a new way and is perceived by existing actors as an opportunity to exploit by creating a new intermediary performing a new role. In business practice, technology development is related to formation of new business ventures, they cannot be separated from each other.