Foursquare has been one of those social media “baubles” that are shiny and glittery but, for whatever reason, has never been wildly embraced despite a lot of attention and more than $15-million of venture capital.
Once thought to be the next Twitter, Foursquare was supposed to catch fire a couple of years ago the popular SXSW conference but it flamed out instead.
Sure, it has two million registered users but who knows how many of those are active. Heck, I have a Foursquare account but it’s been collecting dust for months.
There has been a lot of conjecture about Foursquare’s future in recent months over whether it is anything more than a novelty that lets people broadcast their location. The biggest weakness has been that Foursquare has no other features. It’s a one-trick pony.
Heck, if you want to use a service that makes Foursquare interesting and useful, check out our Fourwhere service that shows comments from users on a map in cities around the world. For what it’s worth, Fourwhere also displays comments from Gowalla and Yelp.
If there were clouds on the horizon about Foursquare before, then it’s fair to suggest dark clouds are now rolling in as Facebook has launched a new service that lets people broadcast their location to friends using a mobile phone.
Facebook’s service looks and smells a lot like Foursquare. Facebook is even using the term “check-in”, which has been Foursquare’s catch-phrase.
The question now is whether Facebook’s move into the location-based services market is the beginning of the end for Foursquare. Given Facebook’s dominance and Foursquare’s precious foothold, it could see many of Foursquare’s users flee to Facebook. After all, why use a service with a single feature when there’s another option with multiple features.
The other school of thought is Facebook has now validated the location-based services market, which means that Foursquare and other start-ups such as Gowalla could thrive based on the rising tide lifts all ships theory.
My take is Foursquare’s prospects have become a lot more dim.
If Foursquare had been enjoying Twitter-like success, Facebook’s entry into the market would be significant but not earth-shattering. The fact that Foursquare is still a small player likely means it is about to take a major hit as people migrate to Facebook in significant numbers.












