Foursquare ($PRIVATE:FOURSQUARE) is celebrating a decade in existence, and alledgedly $100 million in revenue. Its potentially on the precipice of an IPO - at least, if this week's NY Magazine fluff piece is to be believed.
But a hard look at the alternative data tells a different story - and one that Foursquare, which has evolved from a sharing platform into a data provider, may not like.
Our first chart tracks the company's Facebook ($FB) Likes - and for Foursquare, its users have been checking out left and right. In fact - because consumers opting to no longer 'Like' a brand takes their actively clicking out of the relationship - for a company that is so dependent on its users' data, Foursquare looks to be facing a big challenge.
Judging by its Apple ($AAPL) App Store Rating Count, Foursquare shouldn't expect any new likes to be coming any time soon - the company's data, tracked via Apple's App Store, shows that for its most popular app - Fourquare's City Guide - engagement has effectively stalled - or, at least, very few new users are taking time to rate the app still.
However - with, according to New York Magazine, 'interest profiles' covering 100 million Americans, Foursquare may be a force to be reckoned with even if its engagement slows or stalls.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Neighbor is aiming to do to self-storage what Airbnb to home rentals
- WeWork is growing - but to call it a hiring 'spree' is a bit of a stretch
- This is the data showing why investors think Houzz is worth $4 billion
