This seems like a good idea — a free citation tool. RefME is a UK company which launched their app last October. The free app enables you to pull across full bibliographic data when you copy and paste text from the Internet. This seems like a real time-saver for students — maybe we think students shouldn’t be cutting and pasting, but we know they do, and will continue to do so. It’s surely better that they should automatically import the reference to their source than that we should leave it up to them to remember, or forget, to do so.
RefME had a booth at this year’s American Library Association meeting in San Francisco. It’s not altogether clear how they will be able to make money — no doubt ads are what they have in mind.