With a major update, will Foursquare regain its social app mojo?
On Wednesday, Foursquare announced a major change to its social app profile. Under an attempt at rebranding, it would move the majority of its current users to Swarm, a new app where they can continue traditional Foursquare activities like check-ins, earning badges, and spying on friends. The new Foursquare app, which will sync with Swarm, is getting a major reboot in the hopes of regaining its status as a major local search app.
Jon Steinback, Foursquare’s vice president of product experience, says the new, bright pink logo, modeled after a place pin and a superhero emblem, represents what the brand means in 2014. When initially introduced, people used Foursquare because of its gaming component, which turned check-ins into a battle for badges and bragging rights. But the novelty wore off as privacy concerns surfaced. Foursquare generated only an anemic $2 million in revenue last year. With the update, the app will still let users passively share their location and explore their friends’ histories.
But the new focus of Foursquare is about highly personalized local search. “Right now you’re going to get the same results as everybody else,” said Steinback. “And I think that just doesn’t fit for the modern world.” The new app will deliver results based on your individual tastes, such as Chipotle and Starbucks chai lattes.
The question remains whether the new Foursquare can compete with Yelp and Google, both of which have thrown lots of resources into local search. “I think that they are doing some very innovative things with their user data and they have sophistication on the back end that Yelp doesn’t have,” says Greg Sterling of Sterling Market Intelligence. It depends how the product looks and functions, says Sterling. “If it’s just a new coat of paint on the same user experience, then chances are pretty limited that they’re going to draw a new audience.”
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