Creepy or cool? Tracking your online friends offline

SocialRadar puts name with phone

There's a lot of hand-wringing about the amount of information available about you online, but the CEO of one start-up thinks that soon people won't care much about strangers knowing certain details about their lives.

Read More The next thing you'll pay for: Your online privacy

In fact, Michael Chasen, CEO of Social Radar—an app that allows users to pull up information on people nearby—is banking on it.

"Right now, you literally have over a billion people carrying around a smartphone, which is a location beacon. It's really broadcasting your location all the time," Chasen said.

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Social Radar aggregates information about people nearby using their shared location information, along with their social profiles—like Facebook, LinkedIn, Google Plus, Foursquare, Instagram and Twitter—to build a profile of everyone within a set distance chosen by the user.

"In the next two to three years, we will see mass adoption of this technology on smartphones," Chasen said. "It will become mainstream as people see how powerful it is."

Users can also set alerts so that they will be notified when a friend from a certain network is within a certain distance. For example, if you wanted to know when a person from your company was within one mile of you, you could set an alert to receive a message.

While using location tracking, along with other social data, to build such a network might raise some eyebrows, Chasen said for the most part privacy concerns are easy to address.

Source: SocialRadar

"How do you create this technology with all these privacy issues? I don't think that's something very difficult to do. You just have to recognize that you need to have simple controls built in," Chasen said.

Users can still choose who can see their location and social information, and also have the option to make their profile invisible.

Still, Chasen said that 50 percent of users leave their profile turned on all the time. He expects that number to grow as people increasingly realize the benefits of sharing their location.

Social Radar, which launched its mobile app earlier this year, rolled out its Google Glass app on Monday--enabling a very futuristic experience, Chasen said.

"Google Glass is better implementation of the same technology. When you walk into a room the Google Glass app will say there are 10 people here you know," he said.

Because social networking has allowed people to accumulate a lot of friends or connections online, it's impossible to remember all of those connections offline, Chasen said.

"You have all this information on the cloud and you have all these people carrying around these location devices so of course the next step is to create technology that brings all of this together," Chasen said. "So that when I walk into a room, go to events, go to a restaurant or attend a meeting, I know everyone who's there."

By CNBC's Cadie Thompson. Follow her on Twitter @CadieThompson.