Also in this playlist...
This transcript is automatically generated
Volunteers foursquare has gone from zero to more than seven million users today the company's launching foursquare three point -- which allows users to do more than just check it.
Dennis Crowley is back with his co-founder and CN joining us with a look at the new version first and foremost because last time you're on I asked about FaceBook places.
It's going to be incredible competition for you guys that you managed to double the number of users on foursquare right since your FaceBook launched a laces.
Still got a really -- tech and I know we're seeing that people really love the stuff that we're building and in on the direction the -- going.
I -- sorry can't a what you create coming out with in terms of the recommendations -- -- really taking what you do people.
He's achieved not just the next level but probably several levels well yes -- SI mean people have been checking in all over the place -- -- down.
You know almost half a billion -- in the last year and now -- taking all this.
-- this information recycling it and giving it back to users who can tell you like if you like coffee shops.
These are the ones that -- like the next time you go to a strange city -- -- like in a steak places these the places we should go to when you you travel across town it's very very powerful stuff.
It's almost -- -- is the best comparison it almost sounds like you're trying to combine what people do with Yelp or you know I -- have a big Yelp app on my phones -- you go to different city you're looking for the restaurants and what have you with what -- mentioned which is FaceBook places which basically allows you just to check in and say.
Hey MF Fox Business guess you're doing you're is that right is that basically what you need to Bolton to -- put a hole.
-- -- like Kenny makes it easy thirty years yeah like you know the big part of checking and it's just accept -- signal you know I've been displaced I'd like this place.
We can take a lot of information does not to be reviews just like in other places that you go to them and use that to kind of predict the places that you'd like to go to.
Creating this though it was a big Carl for you guys to jump and I know that it's been.
Not easier it's been tough finding.
The right people to hire and really scaling optically yeah overwhelmed with the number of users had to -- the people who -- this.
Yeah I mean these are really difficult technical problems like Amazon level and Netflix style problems and you know -- didn't really distinct -- foursquare -- hiring all the time with bringing great people in and you know we're just that -- but that right point we've got just the right people and just the right money uses -- -- -- -- information to be able to make on the stuff happen you make money.
Right now not yet but like today world -- launching this -- specials platform like better tools for local merchants they can start building.
I enhance loyalty programs and to see how long did not just today eighteen it's beyond -- it's -- -- -- -- -- -- if -- can you know now have specials for bring five of your friends and if you get twenty people here like the first ten people after 10 in the morning can be something.
That's the model to make money to surrogacy is is yes seven million users right or thereabouts and -- and -- and then.
You and the technology makes sense of all the reasons that we talked about and I -- you get asked this question a million times about what you're gonna do next you gonna go public and raise more money would.
But wouldn't scaling up in terms of partnering with another company makes sense for you long term just to get the users that somebody like Google or somebody else hat.
Yet we look at -- you know to look -- all these opportunities all the time -- there's all these opportunities to partner with folks are.
You know to take the company different directions you know what we have to do what's best for -- company -- really what's best for the product and so that's.
-- with folks will do that if -- you know talking you know big partnerships wouldn't consider that stuff but we're really just focused on the product and trying to get as you know get as big as we can as quickly as -- In terms of the -- Steve also enhanced the game aspect of he had -- have you not and that that's such a critically important growth part of a lot of these social hour yeah like we're trying to mix up the people enjoy -- -- fund to use and a big part of that is -- this idea of turning life into game and getting points and rewards for the things that you do an everyday life.
And with a big part of you know fourth with three point oh is -- looking at those game mechanics making them a lot more fun just you know making the experience as a lot better for users.
You know life is -- without like giving yourself black -- breaking up time.
What else that's here everyone has their own personal experiences that you could bring a lot to the table insurance fund on foursquare anywhere else in the -- again okay so come back and keep us up to -- on the growth -- it.
Have fun at SXSW where you launched here today is our second -- for foursquare.
And isn't really going -- and he literally today march ninth of of 09 -- -- -- launched at the bottom of the stock market for what it's -- the -- -- funny but.
Again that's when businesses are created -- -- end of the -- in the into the bowels of we -- -- unemployed and some -- something that is the sort of company.
Well I love that I know your other co-founder this Dennis Crowley and -- and his partner.
-- -- Salvador is going to be live with -- -- Chris -- the 1 PM hour here at Fox Business talked about how the company.
It's helping big banks and blue chip companies make money including a new partnership deal they have with American Express -- that's coming up in the.
Filter by section