PC World: Geolocation service Foursquare is on the rise. Founded in 2009, by this week it has registered over a half million merchants, after counting 10 million users in June. Foursquare is trying to define itself as a standalone social media platform. This seems to be working; even in the face of Facebook Places and Google Places, the company continues to grow.
Snapchat and Foursquare have entered into a partnership to power location-based geofilters and enable more targeted advertising.
"Foursquare is not a consumer social app business, it’s a data company. And only when it admitted that to itself and revalued as such was it able to pull in more capital and keep chugging. Today at LA’s Upfront Summit, Foursquare’s lead investor from Union Square Ventures Fred Wilson stuck up for the startup while trying to make people understand how it’s changed."
Team communication app Slack has hired Foursquare executive Noah Weiss to head up a new Search, Learning, & Intelligence Group for Slack, which will be part of the well-funded startup's new New York office.
