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DIGITAL MARKETING NEWS

Foursquare: 50% growth for 3rd Consecutive Year

Foursquare continues to remain relevant, and is beginning to show investors the platform’s true worth.

Good solid data

Since launching in 2009, Foursquare has stumbled with relevancy but found its stride in recent years by switching from a social app to a data collector, leading to a significant raise in value.

The analytics are in and they are favourable – with Foursquare now clocking up 3 billion visits per month across 105 million venues worldwide.

Having foregone its initial business model for a more B2B directive, Foresquare's venue analytics has helped the company consistently achieve 50% growth year-over-year since 2014.

Flexibility is key

The company’s success is thanks to a tricky unbundling effort by which location and check-in info was relocated to sister app Swarm, with accumulated data now being made available through Foursquare.

Both apps generate a monthly userbase of 50 million and work in tandem to provide the collection of data and then making that data available.

Union Square Ventures has reported Foursquare’s value to be at half of its original $650 million estimation. Though not ideal, the projection marks an upswing that may see Foursquare flourish.

Do you use Swarm or Foursquare’s services? What are your thoughts on the company’s redesign? Give us your opinion in the comment section below.

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