Everyone and their mother seems to have a smart phone these days, foursquare knows this and is tapping into it. foursquare is a mobile app designed to let you “check in” at different hot spots and also check where your friends are hanging out. But the beauty of foursquare and why I believe that it is a entrepreneurial company is that it saw the opportunity and went for it. I saw that there was demand for a creative way of telling people where you are and took advantage of it. foursquare is quickly going from a small gimmicky app to a major social networking tool. With 10million registered users and 3 million check ins per day, it’s clear the foursquare is growing fast. The only criteria for being an entrepreneurial company it doesn’t meet is that it hasn’t figured out a way of monetizing its service yet. But with smartphone expected to become “the most commonly used devices in the world by 2012”, once they do they will be rewarded heavily for all the hard work that was put into making foursquare a reality.

Regards,

Keanan