Check-in geolocation service Foursquare has grown at a rapid pace. The data collected by Foursquare is valuable because it harvests information about how often people visit a specific establishment. Now Foursquare has the interest of Google, Microsoft, and Yahoo! ?Our data generates hugely interesting trends which would enrich search,? stated Foursquare co-founder Dennis Crowley, who previously sold a company to Google.
?We can anonymize data and use it to show venues which are trending at that moment. Twitter helped the world and the search engines know what people are talking about. Foursquare would allow people to search for the types of place people are going to ? and where is trending ? not what.?
Even though Google shut down the previous company they acquired from Crowley called Dodgeball, he said that he is still close with “the guys at Google” and even hired former employees from there. Foursquare just signed up its two millionth user about three months after their first million users. The company now has a valuation at $95 million based on their venture capital rounds. [Telegraph UK]