Hotmail co-founder Sabeer Bhatia and Yogesh Patel have announced the launch of JaxtrSMS, an open texting application that allows you to send free SMS across the world— even to phones that don’t have JaxtrSMS — and it’s available across a comprehensive range of mobile OS platforms including iPhone, Android devices, BlackBerry and J2MEs.

“JaxtrSMS is completely unique in terms that a mobile user can send a text SMS to any mobile phone in the world without requiring the receiver to have the JaxtrSMS application installed on their phone,” the company said in a statement.

Jaxtr Inc CEO and Co-Founder Sabeer Bhatia said, “Now, mobile users can leverage our free and open application to send SMS to their contacts anywhere across the world without having to pay anything.

The company will generate revenue through advertisements and premium services like archiving texts, multimedia, video etc, which will be available by mid-next year.