IT major Foursquare can easily give popular IT brands like Google and Facebook a run for their money as it can leverage its massive database to provide users seeking location information with personalized recommendations said it’s CEO Jeff Glueck. In an interview with CNBC Mr. Glueck stated that the firm is like Switzerland and has the ability to precisely understand the layout and structure of locations around the world to give detailed information about simple things like entry and exit points of shopping malls. This type of technology is hard to understand and implement so only Google, Facebook and Foursquare presently have this kind of precise information.
As the firm works in the field of big data it has used its capabilities and information bank to help other companies enhance their location based technologies. It has formed partnerships with firms like Trip Advisor and dating app Tinder to provide details about precise locations. Mr. Glueck stated that 99 % of its business aim is to help other firms connect with their users by providing location specific data. In Tinder Places that is on pilot stages at three cities, Foursquare matches people that frequent familiar locales like parks, coffee shops and restaurants.
This is helping the app make better matches among people as they tend to have common tastes and are more reciprocal. He also emphasized on data protection and giving users the assurance of being in control when they use location services of Foursquare. Sharing personal details like location, payment modes through Venmo Friends are given in a form of opt-in so users have control over where and when they want to share information. They have seen that around 50-70 % of people in these apps opt in to enhanced location based alerts. Foursquare is a private held company with more than 100 million logged locations located across 200 countries and was at No.46 on CNBC’s Tech Disrupter 50 list of 2017.