Foursquare's New App Revamp Sets The Stage For The Company To Make A Lot Of Money

foursquare explore

Photo: Foursquare

Foursquare just announced a massive revamp of its Android and iPhone apps and it looks very intriguing.The biggest change is a new section called, “explore,” which will give Foursquare users recommendations on what to do. CEO Dennis Crowley explains the new feature:

The suggestions are based on a little bit of everything – the places you’ve been, the places your friends have visited, your loyalty to your favourite places, the categories and types of places you gravitate towards, what’s popular with other users, the day of the week, places with great tips, the time of day, and so on. We’ll even tell you why we think you should visit a certain place (e.g. popular with friends, similar to your favourite spots). You’ll find it’s helpful for general things like “food”, “coffee”, “nightlife” (we built in quick access to these searches) and you’ll be surprised by what you get when searching for really specific things, like “80s music,” “fireplaces,” “pancakes,” “bratwurst,” and “romantic.” The more random you get, the more interesting the results get (though be patient with this first release… sometimes we can’t find every random thing).

This has the potential to be huge for Foursquare. First off, it’s just good for users to know where they can go. Second, just like Google search, it creates a massive advertising opportunity. Restaurants, bars, whatever, can target search results and serve up ads and offers right in the app.

Foursquare also tweaked its leaderboard and its offers for checkins. The leaderboard update allows people to get more points for different kinds of checkins. Foursquare is now serving up specials to “swarms, groups of friends, regulars, newbies, Mayors, or simply to everyone,” says Crowley. He also says there will be a new notification system for those offers.

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