SAUSALITO, Calif. — The growth just isn’t letting up at Foursquare.
“I can share that we’ve had triple-digit revenue growth each year for the last three years,” Foursquare’s chief revenue officer, Steven Rosenblatt, said today during a panel discussion at VentureBeat’s 2015 Mobile Summit.
The five-year old company with mobile-friendly location sharing and business-discovery apps has been monetizing for the past three and a half years, Rosenblatt said backstage after the talk. Revenue comes from ads, data licensing, and subscriptions from local merchants.
Rosenblatt didn’t want to say how much revenue the company brought in last year. But it’s clear the revenue is still on the rise in a big way — thanks in part to its user base, which is more than 55 million strong, and in part to the data about those users.
That’s not unlike social networking companies with enormous data sets, including Facebook and Twitter.
“We are monetizing this incredible amount of data,” he said. “I think what marketers see is we’re able to give them insights that no one else can give them.”
Not that he knew exactly how much data the company has in its vast storehouse.
“I can’t give the exact amount, because I don’t know that answer,” Rosenblatt said.
Dylan Tweney contributed to this story.
Foursquare is a location-based mobile platform that makes cities easier to use and more interesting to explore. By “checking in” via a smartphone app or SMS, users share their location w... All Foursquare news »