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Foursquare: New Game, New Luck?

Foursquare was given an estimated net worth of 100 million US Dollars by investors, who decided to pump in an additional 20 million into the American company. With such a strong support system, the company can surely rest a bit more soundly, but the location-based check-in service will need to use their new capital wisely if they want to keep up with their competitors. Foursquare apparently is one step ahead of us and already has an idea of how to make itself stand out in the crowd: the gaming element of the service should be getting a major facelift to become more entertaining for the user. This information was confirmed by Foursquare engineer Anoop Ranganath in “The Big Money’s Disrupters” podcast.

The community, in which members can alert their friends of where they are, is a combination of a location-based service and a game: whoever regularly visits (or checks into) a café, a bar, or a restaurant can gains points and rewards (the greatest of which being the title of “mayor”), all being visible to other users. In order to encourage more visits, businesses often distributed special coupons or a drink on the house to regulars.

One can definitely look forward to Foursquare’s further development. Most interesting will definitely be seeing whether or not the gaming aspect is exciting enough to encourage more users. The biggest competitors, who currently have a lot more users, are certainly not taking any breaks: Yelp just integrated check-ins, Facebook will probably be following suite soon, and Twitter has had location-based features for quite some time.

Foursquare: New Game, New Luck?

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