Foursquare has found a way to turn their gigantic userbase into real profit, partnering with companies like LivingSocial and Gilt Group to market local deals within the app. The Wall Street Journal reports that Foursquare is also in talks with Groupon for a similar arrangement. The move sounds genius, if it’s done right. Wouldn’t it be nice to check into your hotel on Foursquare and see an ad for a Groupon for a nearby restaurant?
Other companies with agreements with Foursquare include AT&T, BuyWithMe and Zozi. Foursquare was valued at $600 million last month.