Foursquare Business Plan

Foursquare Business Plan-19
That vision, and the local information that followed, propelled it to amass tens of millions of users, hundreds of millions in funding, and billions upon billions of data points from people who used Foursquare to check in around the globe.The problem was, in 2014, that story no longer worked for Foursquare. “Listen, the point of the company, this whole thing, was never to build an awesome check-in button,” says Crowley.

That vision, and the local information that followed, propelled it to amass tens of millions of users, hundreds of millions in funding, and billions upon billions of data points from people who used Foursquare to check in around the globe.The problem was, in 2014, that story no longer worked for Foursquare. “Listen, the point of the company, this whole thing, was never to build an awesome check-in button,” says Crowley.

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By 2014, however, both the technology and the data have finally come of age.

With the check-in front and center, however, Foursquare was still struggling to enter the mainstream and saw its user growth overtaken by younger startups.

Foursquare's new direction wasn't based on gut instinct.

It relied on some pretty scary data the company gathered about how people had been using its app — or how they been using it.

Another was the 60 million venues and points of interest the company gathered across the world in one of the largest databases of its kind.

The team came up with dozens of different ideas for what the service should look like in 2014, but every answer had one thing in common: they all said Foursquare needed to grow out of its one-app approach.

The company had created a new paradigm around location sharing, but that activity was never going to be as popular as snapping a selfie, sharing a link, or firing off a tweet. “What does a version of Foursquare look like that doesn't beg you to check in as soon as you open it up?

So Crowley decided it was time to do something radical. ” Over the last six months, the team has been hard at work on a complete reinvention of the company.

In the end they decided that, in order to save Foursquare, they would have to break it half, splitting the iconic service into two separate apps.

Today, the company is announcing the first fruit of this labor, a brand new app called Swarm that will exist alongside the current Foursquare app.

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