Foursquare to Start Charging Merchants

Develops new features in a bid for profitability

Don’t miss Commerceweek, February 28–29 in NYC, to explore the technology and trends fueling commerce. Get strategic insights from leaders at The New York Times Advertising, Turo, TikTok and more. Register.

Foursquare has a big revenue problem: the social check-in site boasts more than 10 million users and a $600 million valuation, but so far, it hasn’t managed to actually make money. Now, Foursquare is planning to close that gap by charging its 500,000-plus registered merchants to use the site’s services, which are currently free, reports the New York Post.

Foursquare co-founder Naveen Selvadurai told the Post that the company is using its recent $50 million investment to build a “dynamic platform” for businesses and users.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in