Foursquare began pitching digital agencies on a new advertising product that would utilize Foursquare’s location and behavioral data to contextualize ads on other platforms. The product itself is still in development, but it will eventually allow advertisers to use Foursquare data to target ads purchased through ad exchanges or networks. This will mark Foursquare’s first attempt to generate revenue outside of its trademark app. Prior ad efforts only netted the company $2 million, and with heightened pressure on the now-burgeoning startup, the race is on to prove it can generate enough revenue to justify its sky-high valuations. These new developments mesh with the update released on Wednesday that aims to make local discovery, not check-ins, its primary function. It seems as though many agencies are willing to pay for this sort of data for targeted ads, and with the company positioning itself as, “the location layer for the Internet,” more than 40,000 developers have integrated Foursquare’s location database into their apps.
Tag: FOURSQUARE
Foursquare Partners With Visa And Mastercard
In a similar partnership to AMEX, Visa and Mastercard have teamed up with Foursquare to deliver check-in discounts applied directly to cardholders accounts. The recent deal benefits brands by offering easy redemption while generating buzz on the social platform. The move also creates a unique revenue stream for Foursquare who will be earning a fee for every transaction.
Foursquare Gives Business Owners Their Own App
Interesting take on a consumer-facing social media app creating an enterprise app rather than just an enterprise dashboard
Timehop Takes You Back To The Future at SXSW 2012
Any company that shows up to SXSW with a spot-on Delorean replica from Back To The Future to promote their product gets my full respect and attention. Timehop’s Delorean had its Flux Capicitor pumping, a hoverboard in the passenger seat, and it’s modified blender ready for plutonium fueling. The only thing they could have done to take the stunt further was to hire Christopher Lloyd or Michael J. Fox to show up in costume.
Timehop’s product allows you to go back in time and see what you did exactly one year ago across several social media platforms—Facebook, Twitter, Foursquare, and Instagram. Users receive a daily email delivering “the ultimate personal history experience.” Based in New York City, Timehop was created by Jonathan Wegener & Benny Wong at Foursquare’s first ever Hackathon in February 2011. Visit http://timehop.com/ for more info.
