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Foursquare continues to pick up momentum. It now has 20 million users, up from 15 million in December. What’s more, user growth is accelerating; it took approximately 6 months for the app to gain 5 million users between June and December last year.
Foursquare is part of a wave of location-based services that have grown with the surge in smartphone adoption over the past few years. As we discuss in our special report on location-based services, Foursquare has moved away from the “check-in” concept that first made it popular to provide more value to passive users as an interactive city guide. The move seems to be paying off, and we expect growth will only pick up because smartphone sales are just getting started globally.
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