Magazine article CRM Magazine

Foursquare Searches for Revenue Streams: The Company Plans to Start Charging Merchants for Customer Data

Magazine article CRM Magazine

Foursquare Searches for Revenue Streams: The Company Plans to Start Charging Merchants for Customer Data

Article excerpt

Foursquare, the location-based mobile platform that lets users collect special deals at registered locations when they "check in" via a smartphone app or SMS, reportedly plans to start charging its 500,000 registered merchants for premium services, including a dashboard, that it now offers free.

Included in these services are detailed user location histories and tools that help merchants obtain, engage, and retain customers and track their behavior. It is still unclear when Foursquare would start charging the merchants or what those fees would be, but published reports indicate that such a move is definitely on the New York-based company's road map.

In addition to checking in and collecting deals, Foursquare's more than 10 million users worldwide employ the site to share their locations with friends, collect points and virtual badges, bookmark information about venues they would like to visit, and retrieve relevant suggestions about nearby venues. …

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