Location intelligence platform for businesses
Foursquare monetizes primarily through advertising revenue and usage-based fees. Its technology powers location-based features in various major apps and devices, and it has signed deals with companies like Apple, Twitter, and Pinterest to use its location data. The company also plans to charge for heavy use of its API by third-party developers.
“Foursquare's revenue reached $57.9M.”
“The company has been inserting ads into its app for a little over two years now, and that taught it some critical details.”
“Efforts to monetize the platform via ads in its app (now apps) have not made the grade.”
“the bigger story is what we can do with the data the apps generate, and the technology we’ve built to enable that.”
“Foursquare’s technology powers the geofilters in Snapchat, tagged tweets on Twitter; it’s in Uber, Apple Maps, Airbnb, WeChat, and Samsung phones, to name a few.”
“Glueck says that the Pinpoint and enterprise revenue lines now make up the majority — over 50% — of Foursquare’s revenue.”
“it’s planning to start charging for heavy use of its API, which is much beloved by third-party developers”
“He pointed to deals that Foursquare has signed with companies like Apple, Twitter and Pinterest to use its location data.”