After failing to secure additional funding this year and the revelation that they had taken in a paltry $2 million in revenue in 2012, Foursquare was able to secure bank financing to prevent a hasty sale. When Facebook’s Graph Search was released, I assumed that Foursquare’s check-in data would be in high demand as Facebook tried to make Graph Search a more robust product.
I may have been mistaken to think Foursquare was such a hot commodity. This is an infographic from 2011 showing that in Foursquare’s heyday Facebook was getting demonstrably more check-ins than Foursquare (self-disclosure: I had quite a bit of civic responsibility as mayor of many parks and coffee shops in Redmond, Washington). I could be that there’s a qualitative difference in the data between 4SQ and FB, but the likelihood of that is pretty low. Which means that Foursquare is not as attractive acquisition as I thought and that if Graph Search is going to be as robust as Facebook hopes they are going to have to find a way to generate a lot more social signals.
I’m curious about how Foursquare’s future will play out. Let me know what you think about the current state of Foursquare and Graph Search, or of this infographic.