The company is currently testing the tool internally, using it to decide where to eat lunch. It hopes to make it public and enable third-party developers to generate similar recommendation engines using Foursquare data obtained through its API.
The product Foursquare is testing takes information about what nearby restaurants are popular, what venues you have on your to-do list, and where you have checked in recently, to suggest places you haven’t been to but might like.
It’s an interesting idea, and in-line with founder Dennis Crowley’s stated vision of making Foursquare more about transforming how people explore the world.
Down the line, if this or similar features take off, this could also be another revenue source for the company. Whenever you have algorithmic suggestions, you have an opportunity to add some sponsored ones alongside them.
Here’s a video of the talk at which Dennis announced the product:
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