Last week, a classmate asked, "Will foursquare be around for long?" I say the answer is a resounding, "YES!".
The move to recommendations is nothing like a pivot. This has always been a key focal point of foursquare since the beginning. As long as I've been using the service, it's goal has always been about making the real world easier to use. There's a huge opportunity to be a business for that. It can be coupons and specials, it can be mobile ads, it can be sponsored search results. Similar to google ads, the intent to visit and purchase something is HUGE around foursquare check-ins and explore queries.
The fact that foursquare has 20MM+ users at this point is pretty awesome. It's starting to get some real size. The recent redesign of the mobile apps has made some awesome changes that will likely increase engagement a tremendous amount (liking check-ins, better personal history/stats, the never-ending activity stream). It has managed to successfully build a product for a multi-sided market by pulling in major brands (MTV, Bravo, American Express) and small merchants in addition to those 20MM users. All of these businesses are already seeing real value from foursquare and the update is likely to solidify that lead.
Users see real value from foursquare, it's giving back to them in the form of nostalgia of check-in history and tying photos to places/events. They see value from the actual specials offered by merchants and brands on foursquare (have you synced your AMEX card yet?). That keeps users coming back and what keeps users coming back keeps businesses coming back, too.
Tell me what you think: @bballan or brianballan.com
Disclosure: I worked at foursquare in bizdev and product roles in 2011 before starting at Columbia. I am a fan.
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