Digital

Foursquare and Yahoo See Profit Potential in Location-Based Data

Excerpt from Buzzfeed

Aug 21, 2013 2:47 pm

Skift Take

Foursquare will begin to see success when it does a better job giving non-sharers a reason to rely on the service for information about restaurants, bars, hotels, and other points of interest. Once they get hooked on discovery, they may very well become fans of over-sharing, too.

— Jason Clampet

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Foursquare, once criticized for not being able to figure out a business, may have finally struck gold deep in its data centers.

The location-based start-up in New York already brings in a small amount of advertising revenue — about $2 million in 2012, which is doubling about every quarter, according to a source familiar with the company’s financials. However, there may exist a much more lucrative stream of revenue deep in the guts of the company’s servers: monetizing data about venues and locations that it has collected from millions of check-ins throughout its roughly four-year lifetime.

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