After 50 million dollars funding and partnering with American Express recently, today as an attempt to build revenue stream, foursquare announced it will partner with GroupOn and Living Social to promote localized group deals on the foursquare mobile app.
Watch the above interview (Co-founder Naveen Selvadurai talked with Stacey Delo) to find out about foursquare first new office outside NYC and talks about its business models through customer loyalty programs and international expansion.
Here in Australia as we speak (July 2010) foursquare presence and usage is still minimal, I found myself explaining people what foursquare is all the time, more difficult explaining why I use Gowalla to put my foursquare check ins.
The key winning point for foursquare is to sell it as the most advanced localized and consumer centric loyalty software for physical businesses.I still do not see any tanglible incentive when I check in on foursquare apart from few stores that offer some one off offers for foursquare users.
What I would like to see is how every of my check-ins count for having access to more and better discounts, promotions and money cant buy activities per each brand I check in…..
I do not see happen yet but I hope the guys at foursquare get the customer loyalty programs happening and going viral soon.
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