Remember Foursquare, the location-based social network with the "check in" function? It's now a location-focused consumer data company with location technology that can rival the industry leaders Google and Facebook. The company now depends on client companies to share their own local data and improve the value of the offering as a whole:
Foursquare will not disclose how many of its clients share their own data (clients are not required to share), but it’s safe to assume the data being provided by its clients far outweighs the data being generated by holdout Foursquare City Guide users. All told, the company now has “interest profiles” for over 100 million U.S. consumers.
The company licenses its data to app developers and is an attractive alternative to the larger providers who don’t license actual data, only services.