Foursquare is a social networking application that began in 2009. People who log on “check-in” to real life locations via. phones. “Check-in” result in points and badges that users can collect and show people they know. As for the moment, Foursquare has not generated profit yet, but it has more than 15 million users now(1).
I think Foursquare is entrepreneurial in the sense that they have found a product with great potential. As society continues its smartphone shift, the number of Foursquare users should continue to grow rapidly. Foursquare takes full advantage and piggybacks onto the success and popularity of smartphones. However the real treasure that Foursquare has stumbled on is the fact that they now have knowledge regarding “where consumers choose to go and purchase items“(2). Foursquare didn’t develop the technology that allows users to access Foursquare, but it did develop the ability for users to connect to each other through mobile devices.
Picture taken from: https://foursquare.com/