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Foursquare’s Fortune?

Posted on 5.30.2012

Location-based social network Foursquare has long been one of the hottest digital properties on the planet, providing an app for users to check in to various business establishments. But like the majority of popular startups, it still lacked a working revenue model — until now. Founder and CEO Dennis Crowley recently announced that Foursquare will offer merchants special placement to promote personalized local coupons during July in a redesigned version of the app. If this trial run doesn’t work out, Foursquare has also introduced a new policy in which merchants can fast-track the free verification process for a mere $10 fee — sort of like slipping the maître d’ a ten spot at a restaurant.

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