Foursquare, the location-based service, might be most known for its check-ins. But as its Explore search and discovery engine becomes more popular, the venue-specific tips its users leave behind for others using the app--where to find unbeatable burgers, what café has the tastiest soy lattes--are rapidly becoming one of the startup's most compelling assets.
The dataset is especially valuable for Foursquare not only because it gives the company insight into what locations are popular and why, but also because the number of user-generated tips on the service is growing at such a fast clip. Last month, Foursquare surpassed 33 million user-generated tips, up roughly 65% year-over-year. That means the number of tips added on Foursquare is growing at a faster rate than the number of reviews uploaded to Yelp, one of the startup's chief competitors. The numbers were shared as part of Fast Company's new profile of the startup's CEO and cofounder Dennis Crowley. Read More