New 'Communication Device' for cyclists...

I was watching a video on YouTube recently and someone was talking about a new type of 'walkie-talkie' for cyclists. I was intrigued... how did it work? what frequencies? what modes? A quick search of the product resulted in several links including the manufacturers website and some cycling news websites describing it as a 'communications device, a 'race radio' and a 'little radio network'. The…