Foursquare Is On A Roll, Baby

Serious Dennis Crowley

It’s been an amazing few months for the location-based startup.

Led by their hard-partying, boy king founder Dennis Crowley, the company – still just a few dozen employees – continues to roll out features at a rate befitting of much larger organisations.

It wasn’t that long ago that we all thought Facebook was going to kill the service. (And Google wanted to as well.)

Foursquare vowed to fight back, and they are succeeding.

Given the company’s rapid rise, it will soon find itself in the elite, $1 billion club.

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[slide
permalink=”foursquares-recent-run-started-in-june-with-a-shot-at-facebook-1″
title=”Foursquare’s recent run started in June with a shot at Facebook.”
content=”Mark Zuckerberg’s company started testing a feature called ‘happening now’ that basically doubled up on the News Feed. In a tweet, Foursquare product head Alex Rainart mocked the idea.”
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[slide
permalink=”two-impressive-numbers-popped-out-two-weeks-later-2″
title=”Two impressive numbers popped out two weeks later.”
content=”Foursquare hit 10 million users.

Then, more impressively, they closed a $50 million round that valued the company at $600 million. The money came from Andreesen Horowitz, Spark Capital, O’Reilly AlphaTech Ventures, and Union Square Ventures.

They also debuted a new app, which made checking-in extremely easy.”
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[slide
permalink=”with-the-new-money-foursquare-landed-a-new-office-3″
title=”With the new money, Foursquare landed a new office.”
content=”First, Foursquare was sharing space on the Left Coast with Square. Then, it moved into a basement room. Finally, the company found a real office for its 15 employees in San Francisco.

The space is large and mostly empty, clearly primed for more expansion.”
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[slide
permalink=”in-early-july-foursquare-kicked-off-its-daily-deals-plan-4″
title=”In early July, Foursquare kicked off its Daily Deals plan.”
content=”The startup partnered with a number of companies to alert users about daily deals in their area. Quick, simple, and potentially lucrative.

The original announcement did not include Groupon, but the two companies worked out their differences and partnered a few weeks later.”
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[slide
permalink=”augusts-benchmark-3-million-check-ins-per-day-5″
title=”August’s benchmark: 3 million check-ins per day.”
content=”The company was serving up 3 million check-ins per day – up 50% from February – from its 10 million users. The numbers indicated that engagement was extremely strong.

And they had signed up 500,000 merchants, impressive for a company whose marketing platform consisted almost entirely of word-of-mouth.”
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[slide
permalink=”then-they-started-really-rolling-out-the-new-features-6″
title=”Then, they started really rolling out the new features.”
content=”With the self-serve business pages, any company or brand could create their own space in Foursquare.

‘Brands sign up with their Twitter account, and they can share their tips and check-ins on Facebookand Twitter. The pages also allow for multiple account managers, which is useful for big organisations.’

The move was another way to draw ever more merchants and other companies to Foursquare. Eventually, this could generate revenue.”
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[slide
permalink=”then-came-foursquare-lists-7″
title=”Then came Foursquare Lists.”
content=”Have a place you’d like to go but can never remember? Put it on a list.

Or, thought of another way, Foursquare invented the ‘future check-in.’ The service allows people to plan trips and brands could create lists such as places to ‘check in like a superstar.’ (Oh People.)

In the process, they killed startups including Matchbook, Gtrot, SpotOn, and a few others.”
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[slide
permalink=”president-obama-joined-foursquare-8″
title=”President Obama joined Foursquare.”
content=”It wasn’t a big feature, but it was perhaps the biggest sign of Foursquare’s growing visibility: the White House created an account.

The move was also a sign of how the location-based service will play a role in the 2012 election. Expect an increasing number of politicians to join”
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[slide
permalink=”featurefest-2011-continued-with-events-9″
title=”Featurefest 2011 continued with Events.”
content=”Users were able to broadcast what they were doing in addition to their location. You know, like hanging out at an LPGA event.

Foursquare partnered with ESPN, MovieTickets.com, and Songkick when it launched the events feature.”
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[slide
permalink=”foursquare-won-round-1-with-facebook-10″
title=”Foursquare won round 1 with Facebook.”
content=”Zuck’s company scaled back Places, giving Foursquare a credible claim that it was ‘winning the check-in battle.’

The war wasn’t won, but the battle certainly was.”
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[slide
permalink=”conclusion-its-good-to-be-king-11″
title=”Conclusion: It’s good to be king.”
content=”Foursquare is big, and it’s only going to get bigger.

Best of luck to Dennis Crowley and his team.”
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[slide
permalink=”foursquare-is-a-success-how-about-some-big-busts-12″
title=”Foursquare is a success. How about some big busts?”
content=”I Spent $100 Million And All I Got Was This Failed Publication >>>
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[/slideshow]