Foursquare strikes deal with group buying sites
|12 Jul 2011 2:20 BST||Back|
Also in the news
Location-based social media site, Foursquare has teamed up with LivingSocial to target relevant deals based on consumers’ geographical locations.
Foursquare will start passing on daily deals to its users from a number of social shopping companies and will take a cut from the revenue.
How will it work? Foursquare is adding a new marketing component to its mobile app allowing it to alert users of venues near them that have daily deals.
It is an extension of the location-based marketing service that Foursquare offers its half a million or so businesses, may of whom are Small and medium-sized enterprises. Foursquare launched three years ago and currently has 10 million unique monthly users.
Foursquare co-founder and CEO Dennis Crowley said that the service will start distributing third-party coupons this week. “We are trying to see if our targeting works and how users will react,” Dennis explained in an interview with the Wall Street Journal.
In another marketing push, LivingSocial has just announced a TV advertising campaign to promote itself in the UK. It is the fourth most visited group buying site in the UK, with 1.1 million unique users a month (according to ComScore). LivingSocial also claims to have more than 30 million members worldwide.