Location app Foursquare announced $50 million in additional funding today, valuing the 2-year-old company at a reported $600 million.
What will Foursquare ad deals and integrations ultimately look like? How will they be measured in terms of effectiveness? That's all still to be determined. Also: How much are marketers actually willing to pay for Foursquare programs?
Marketers have certainly been eager to experiment with the location-based service, which finds 10 million users — that's total, not active — accessing the app to tag themselves at restaurants, bars and parks to share with friends, and get discounts and recommendations.
"[Foursquare] is about as close to the epicenter of social local and mobile as anything I know," Mr. Tobaccowala added. "That bridge between the analog world and mobile, there's going to be a lot of money made. Foursquare has the potential to leverage that."
Source: AdAge
