Foursquare has launched a new version of its iPhone app, which includes a real-time, location-based notification system, dubbed Radar.
Foursquare has launched a new version of its iPhone app, which includes a real-time, location-based notification system, dubbed Radar, as the firm continues its attempts to increase user engagement. Radar, which is opt-in, harnesses the new features from Apple’s iOS update this week, and sends users notifications when they are near a location that they have previously stated an interest in, using Foursquare’s recently-launched list feature, or Apple’s new reminder tab on iOS, while also informing users if their friends have checked in at location nearby. The move comes as Foursquare attempts to shore up its business and prove to investors and critics that is more than merely a novelty app.
The firm has made significant strides to convert its market lead in the social check-in space into dollars in recent months, since its USD50m funding in June, which valued the firm at USD600m, sparked criticism from some quarters. The firm moved quickly to attempt to placate its investors by claiming that half a million businesses are now signed up to its merchant services, before linking up with a raft of daily deals firms in July, including market leader Groupon, to notify users of nearby deals, as it attempted to capitalise on heightened consumer interest in market
Foursquare’s struggles to generate significant revenues are indicative of a wider issue in the social location space. Rivals such as Gowalla also record meagre revenues, and while the space has received much hype, investors and analysts are waiting for it to deliver. More broadly, the rise of smartphone adoption has boosted the use of location services, with a recent report by Pew Research Centerclaiming that more than a quarter of US adults now use a mobile or social location-based service such as maps or GPS, however it adds that just 4% use location check-in services such as Foursquare and Gowalla.
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