Welcome to the magical world of foursquare!
But wait a moment.
Perhaps you’re wondering what foursquare is?
Well then, let’s start with the basics, shall we?
- Foursquare has more than 55 million monthly active users.
- The Foursquare Swarm app has an average of 9 million daily check-ins.
- Foursquare has over 3 billion global visits monthly.
- Foursquare has seen a 50% revenue growth for three years in a row between 2015 and 2017.
- Foursquare saw a 491% growth in the three years leading up to 2017.
- The number of clients on Foursquare is more than 120,000.
- Foursquare has venues in more than 190 countries.
1. Only 13% of adults in the US use Foursquare.
(Source: We Are Flint)
- In the US, 14% of urban users and 9% of rural users are on Foursquare.
- It is believed that around 60% of all Foursquare users are based in the US.
- Foursquare is ranked below Tinder and Giphy in the US, in terms of usage.
- In the US, Foursquare is the 107th most popular social media and the 63rd most famous mobile app.
While the company does not keep track of usage by country, it is believed more than half of global Foursquare users are based in the US.
This may come as a bit of a surprise, given that only 13% of US adults use Foursquare. The social media is way down the charts and is ranked behind sites like Giphy and Tinder.
It’s no wonder a lot of people ask themselves: “What happened to Foursquare?”. But Foursquare opened a new office in Chicago in 2018 and is looking to increase both its growth potential and revenue.
2. More than 50 million people use Foursquare on a monthly basis.
- Foursquare delivers location-based services to over 1 billion people globally.
- Foursquare statistics from 2016 indicate the site receives the most traffic from Turkey.
- Foursquare is under number 1,486 in the global website ranking.
- Alexa ranks Foursquare 2,187th in its global internet engagement ranking.
Even though Foursquare ranks quite low in the rankings, the company has 50 million monthly active users as of 2016. People spend an average of 1 minute, 35 seconds a day on the site.
Foursquare data from the same year says Turkey is the biggest fan of the network, percentage-wise. Its residents are the most likely to be engaged with Foursquare among all countries worldwide.
Question time: Is Foursquare still a thing?
Foursquare is still a thing, although a lot has changed since its inauguration in 2009. In 2017, Foursquare has announced that the last three years have seen the company register at least 50% yearly revenue growth.
3. In the US, the largest Foursquare user group is the 18–24 year-olds (26%).
- In the UK, the 25-34 age group has the highest penetration at 23%.
- The 18–24 group score 19% at Foursquare usage.
- 64+ year-olds in the UK do not use Foursquare at all.
That last one was to be expected, wasn’t it? After all, the younger generations are the ones constantly on social media.
Foursquare 2019: Top 10 Best Rated Locations in the US:
1. Central Park
2. Regal Cinemas Red Rocks 16 & IMAX
3. Prospect Park
4. Lands Ends
5. Brooklyn Bridge Park
6. Haystack Rock
7. Flora Grubb Gardens
8. Golden Gate Park
9. Collis P. Huntington Park
10. World Showcase
4. Men (18%) are using Foursquare more compared to women (8%) in the US.
(Source: The Next Web)
- In the UK, male vs. female percentage of Foursquare users is 10% – 7% for males.
- Around 16% of women have a positive opinion about Foursquare.
- A positive opinion regarding Foursquare is shared among 19% of men.
Foursquare statistics give an advantage to men when it comes to time spent on the platform. Men are also more likely to share their location data, according to an older study by the Wall Street Journal.
By now you’ll have realized what foursquare data reveals. Young men between 18-34 are the main users of Foursquare, while women of age 55+ are the least likely to check reviews and locations on the app/site.
5. Foursquare is the only review site to consistently receive fewer reviews than in the previous year.
- Foursquare is the 5th fastest growing review site, behind Google, Facebook, Yelp, and TripAdvisor.
- From the top 5 review sites, Foursquare has seen the lowest average new reviews per business over the period from 2013 to 2016.
- People rank Foursquare at 2nd place in sites for discovering attractions in the travel destinations category.
People seem to prefer reading a foursquare review when the subject in hand is finding an attraction or travel destination. Otherwise, Foursquare is miles behind major competitors like Google and Facebook.
Still, despite it being overlooked, it remains a great way for business owners to attract local customers.
Question time: How many users does Foursquare have?
Foursquare has more than 60 million registered users and more than 50 million monthly active users.
6. In 2017, Foursquare reached $100M in revenue.
- 20% of users in the US with an income of $100,000+ use Foursquare.
- In the UK, 14% of people who earn £48,000+ are on the platform.
- 2017 was the first year Foursquare was profitable.
- Foursquare‘s pre-money valuation in October 2018 was $300M.
According to Foursquare statistics, users with higher income are more likely to use the app. In fact, just 10% of people in the US with an income of $30,000 or less use the platform. It’s similar in the UK, where just 7% of consumers making £14,000 or less utilize Foursquare.
While the Foursquare revenue model seemingly didn’t start working until 2017, the company is now actually making a profit. Foursquare wants to be independent, instead of trying to cooperate with giants like Google, Facebook, and Amazon.
This means it’s been a hard road, but the company made it to ten years of existence, despite offers to acquire it, and a lack of sufficient revenue. The best might be yet to come.
Question time: Did Facebook buy Foursquare?
Facebook bought Instagram. Foursquare was the location partner of Instagram at the time. Facebook later replaced Foursquare with its own Facebook Places (which the Foursquare CEO once called “boring”) for Instagram.
Foursquare is ‘til date the only social media platform that has its own holiday. 4square is 4/16, which is four squared, thus the holiday is celebrated on the 16th of April.
Foursquare Day began in 2010, when Nate Bonilla-Warford, an optometrist from Tampa, “was thinking of different ways to use Foursquare as a business.”
The 16th of April has been officially proclaimed as Foursquare Day by many cities around the world, including Istanbul, Singapore, Toronto, Ramat Hasharon, as well as several in the US.
But Foursquare did not think “the sky is the limit”. In October 2010, a check-in was registered from the International Space Station.
7. The ROI from Foursquare ads can go as high as 2,500%.
- 60% of the advertisers on the Ad Age 100 list rely on the media and measurement products of Foursquare.
- The location-based advertising market is set to grow by a CAGR of more than 17% through 2022.
Foursquare can benefit your small business. You just need to know how to optimize your profile. Advertising on Foursquare may be the ideal solution for businesses with smaller budgets. It’s a cost-effective way to drive traffic since you only pay when people view your profile or visit your store.
Foursquare powers location data for Apple, Uber, Twitter, Microsoft, Samsung, and about 100,000 other developers, according to the company.
Question time: What does the Foursquare app do?
The app’s purpose is to help you discover and share information about businesses and various locations around you. The Foursquare app is available for both iOS and Android.
8. Foursquare was launched in March 2009.
- Foursquare divided its two core functionalities into separate apps – Swarm and Foursquare City Guide – in 2014.
- President Barack Obama joined Foursquare in 2011, with the intention that the White House staff would use the service to post tips from places the president has visited.
- In 2014, the company launched Foursquare 8.0, a new version of the service which removed location-sharing and check-in features, dedicated to local search instead.
Foursquare is celebrating its 10th anniversary this year! The company has gone a long way since it started out in 2009.
In 2015, there was a speculated $900 million acquisition offer from Yahoo. The CEO at the time – Dennis Crowley, reportedly decided against it. The valuation of the company had risen to $760 million in 2013 when Foursquare was raising funds.
But how much is Foursquare worth right now, in that case? As of 2019, the company is valued at $390 million. It’s been through many ups and downs but in the end, Foursquare is still in business.
You didn’t know what Foursquare is, but now you do.
You didn’t know what 4/16 is, but now you do.
Now you know what foursquare valuation is.
Now you know who uses Foursquare.
Now you know, all in all, all there is to know about Foursquare. Meet you there!