You Can Now Put Your Exact Location in Tweets
This was great!
Twitter on Monday announced that it has partnered with Foursquare, a startup focused on local business recommendations, to allow users to include their location in Tweets. Rather than a simple geographic location—e.g. “New York”—Foursquare’s data, which gathers information on venues from billions of user-generated check-ins, is more specific and contextual, e.g. “Time-Life Building.”
Beyond the product implications for Twitter, this deal highlights an aspect of Foursquare that the company is eager to tout: Namely, that Foursquare is sitting on a mountain of data that is valuable enough for a social media giant like Twitter to pay for it.
“The Foursquare platform is a pretty fast-growing SaaS business compared to the other new SaaS businesses we’re invested in,” says Ben Horowitz, a partner at Andreessen Horowitz and board member of Foursquare, using the acronym for software as a service. “To build [Foursquare’s data business] from nothing would be exceptionally difficult.”
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