Microsoft Corporation (NASDAQ:MSFT) put $15 million into Foursquare Labs as part of a strategic investment. There were rumors that Microsoft would be making the investment this past August, but Foursquare CEO Dennis Crowley confirmed the investment in The Wall Street Journal today.
Microsoft signed a “multi-year contract to license Foursquare data in services such as its mobile operating system and Bing search engine.” Microsoft is now Foursquare’s single largest source of revenue.
Foursquare is a popular mobile geolocation service where users “check-in” to various establishments. The Foursquare check-ins can be published on Facebook, Twitter, and other apps.