Rikh's Blog

The company I chose to blog about for being entrepreneurial is Foursquare. It is a mobile application on smartphones that allow users to check into places, view the ratings of the place and also collect badges for frequenting these places. It not only benefits the users of the application but also the owners of the restaurants and bars etc as it allows them to keep track of their customer flow and who are their loyal customers and rewarding these loyal customers with coupons and discounts. More companies such as Gap are giving users an opportunity to get a discount if they ‘checked’ into a Gap store and the company can gather data as to how many people did patronize their store that day.

This company was born from innovation and now they have 4.5. million downloads of the application which distinguishes them other companies.  Furthermore according to Schumpeter’s View of Entrepreneurship, this company has successfully created a new form of organization; organization of how users keep track of their whereabouts. The company keeps on growing till this day and there are more than 1 million users to date and more people are realizing the applications full potential.

Basic Interface for the foursqaure mobile app

Links:

(http://www.entrepreneur.com/magazine/entrepreneur/2010/june/206722.html)

(http://www.mobilemarketingwatch.com/gap-uses-foursquare-for-unique-one-day-only-25-off-check-in-offer-8498/)