As it appears, Dennis Crowley (Foursquare founder and CEO) doesn’t wants to share the same destiny as Instagram’s Kevin Systrom, tempting as it might be… According to multiple sources online, Foursquare is a few months from launching its own advertising platform.
Over the last 24 hours, more than a few stories are citing all kinds of sources “familiar with the matter” that the location-based social networking service is preparing for an initial roll out of a new ad product which will be focused on check-in offers and specials, at some point around June.
The product will supposedly allow brands to serve coupons, deals and discounts on specific areas where users check-in or when they are searching for a certain local place. The ad product will be powered by the same program that’s powering the service’s “Explore” feature which presented in January.
Although Foursquare hasn’t confirmed anything yet, a strong evidence for the advertising platform plan came from the social media director of Walgreens, Adam Kmiec. Kmiec has stated that Foursquare tried to “recruit” Walgreens into its new advertising initiative, but Walgreens still hasn’t approved taking part in it.
Even though that Walgreens already had an establish relationship with Foursquare in the past (on its flu shot campaign), it is very likely that Foursquare also approached other major brands to participate in the early launch of the advertising platform, in order to allure other businesses to join as well when eventually it will be launched.
It seems that Foursquare is feeling mature enough to serve its own advertising platform, now that it has 20 million users. With this sort of large audience, offering businesses location-personalized ad product to target customers holds a huge potential. This effort is also pointing out that the company plans to continue riding solo and not looking to be acquired any time soon.
Foursquare is joining another popular social networking service that expressed its advertising intentions recently- Tumblr’s CEO and founder David Karp has stated lately that his giant blogging network would start serving ads within the platform dashboard’s Radar as soon as at the beginning of May.
But back to Foursquare, the company only released the following statement regarding this issue:
Over 750,000 businesses use Foursquare to engage with their customers, and we’re continually improving our offerings to make the platform even more powerful for them.
Not much of a confirmation, but also not much of a denial.