Foursquare: Social Media or Local Commerce?

Despite its claim to have 6 million users, it appears that Foursquare has yet to establish a strong presence among college-age consumers. As I "checked into" my residential college tonight at dinner, I had to yet again explain the geo-location start-up to a group of bewildered friends. I continue to be amazed by how few people actually use the platform, if they even know about it in the first place.

I saw an interesting article from TechCrunch featuring an interview with the founders of Groupon and Foursquare on the topic of "Local Markets." It was definitely very insightful to see how the founders themselves view their business and how it differs from the common perceptions.

http://techcrunch.com/2011/01/24/dld11-foursquare-and-groupon-ceos-on-cracking-the-local-commerce-nut/