Posted by Renee Schmidt

 

Source: Foursquare

Foursquare, a geo-location social networking tool that pioneered the “check-in” sphere, hit a user base of 10 million this week.  People use Foursquare to check in and let people know where they are at the moment.  To commemorate a modest growth from zero users to 10 million in a little over 2 years, the NY-based company published this really wild infographic.

Here are some fun stats:

  • 4.7 million people checked in on “Main Street” across the U.S.
  • The most popular chain stores “checked-in” to: Old Navy; Bank of America; 7-Eleven; Home Depot; Target
  • People who check-in are happy (based on a sentiment analysis of words indicating happiness)
  • 1,061 birth announcements
  • 1,750 congratulations received in comments
  • 1 real world mayor enthroned on Foursquare: @MikeBloonberg of NYC
 
  • Sam Hamadeh JD, MBA

    Foursquare (technically called Foursquare Labs, Inc.) has everything
    needed to succeed in my opinion: first mover advantage, large and
    growing user base, and now a strategic with Groupon. Yes they were
    probably a bit late in turning on the revenue model and working with
    merchants, but in my experience it’s better to be a bit late than too
    early.

    And just before this recent funding round, they already had plenty of capital to have time to get the model right. (Now they have even more.)
    They’ve previously raised $21,350,000 in funding according to private company financial data site PrivCo.com (I’ve pasted the full VC funding table from PrivCo below as reference for those who don’t have a full subscription) making the new total $71,350,000:

    PRIVCO.com PRIVATE COMPANY
    FOURSQUARE LABS, INC.

    PRIVATE FUNDING:

    DATE INVESTOR ROUND INVESTOR TYPE
    08/2009 Union Square Ventures A Venture Capital Firm
    08/2009 O’Reilly AlphaTech Ventures A Venture Capital Firm
    08/2009 Kevin Rose A Individual
    08/2009 Alex Rainert A Individual
    08/2009 Ron Conway A Individual
    08/2009 Joshua Schachter A Individual
    08/2009 Chad Stoller A Individual
    08/2009 Sergio Salvatore A Individual
    08/2009 Jack Dorsey A Individual
    TOTAL ROUND A $1,350,000
    06/2010 Union Square Ventures B Venture Capital Firm
    06/2010 O’Reilly AlphaTech Ventures B Venture Capital Firm
    06/2010 Andreeson Horowitz1 B Venture Capital Firm
    06/2010 Richard Webb Individual
    TOTAL ROUND B $20,000,000
    TOTAL OF FUNDING SHOWN ABOVE: $21,350,000
    Source: http://www.privco.com/private-company/foursquare-labs-inc

    -Sam (Wharton School Entrepreneur-In-Residence)