Content Discovery Smackdown: Hootsuite vs. Buffer vs. KloutContent Marketing Minds: Ingredients of the Tastiest Content [Nutrition Label]From the Corn Field to the Digital Era: Content Marketing Starts with TrustContent Marketing: Is 2014 Really Shaping Up to Be the Year of Video?
Your Customers Aren’t Listening! How to Create Consumer Dialogue that Converts4 Tools for Nonprofit Social Listening and Reputation ManagementThe Promising Role of Social Listening in Treating Health IssuesThe Importance of Social Listening for Brands
- Public Relations
Facebook Testing a Way for Users to Buy Products on the Platform7 Website Tips to Attract More Shoppers to Your PagesHow eCommerce, Augmented and Virtual Reality Will Redefine the Retail ExperienceSearch Query Analysis to Increase eCommerce Website Conversions
- Content Marketing
Technology & Data
Social Startups: Bizible Connects All the Dots from Marketing Contributions to RevenueCreating the Perfect Profile for Your Social Media Marketing EffortUsing GPS and Localization for Social AnalyticsAnalytics and Prospect Intel: Discovering Your Ideal Prospect
- Big Data
- Tech & Innovation
3 Security Risks You’re Taking Every Day While Using Social MediaShould the President Have the Power to "Pull the Plug" on the Internet?How Safe is Your WordPress Website From Hackers and Other Malicious Attacks?
- Software & Tools
- Small Business
- Social Organization
Celebrating the Grand Re-Launch of Social Media Today! SBH Podcast Episode 8Why Should You Care If Your Employees Are Thought Leaders?Beyond Engagement: The Art of Managing Social-Media Risk in Employee Advocacy
Why All-in-One Social Media Management Systems Don't Cut It for Social Customer ServiceWhat You Should Know About Customer, Digital, and Contextual ExperienceSurging into Q3: How to Make It Better Than Q2Is How You Serve Your Customers Costing You Business?
Join us September 15th in Atlanta for The Employee Advocacy Summit and learn how to unleash the power of your employees.
Post your event here and we'll share it with our community. If one of our members is featured, we'll promote as well on their profile.
- Marketplace & Webinars
The SMT Marketplace
Your resource for exclusive content and insights from Social Media Today, and opportunities to reach our community of professionals.
The Social Business Book Club brings you books, discussions, and insights from today's to business thought leaders.
Join interactive talks and and panel discussions with leading thinkers and practitioners on social media and networked business, or browse the catalogue of recorded sessions - all completely free.
Reach Social Media Today's community of marketing and communications professionals in an editor-approved context with a native advertising package.
Facebook About to Drop a Bomb on Foursquare?
Posted on March 26th 2010
Changes announced today to Facebook's privacy agreement suggest the company is about to flip the switch and add location-based capabilities to the social network. Some think this might mean the end for standalone location-based services like Foursquare and Brightkite. I don't think so.
“Experts” have recently placed Foursquare valuations in the $50M to $70M range. I think this is low, and I also think it is too soon for Foursquare to sell. (More on 4sq in a moment.)
And Yelp is an interesting player in this market, boasting a huge user base (huge by Foursquare standards) that it brought into the location-based world with an iPhone app earlier this year. The Yelp iPhone app alone had around 1.25 million users back in January, compared to around 500,000 today on Foursquare*. Yelp, for reasons I don't want to get into right now, remains a dark horse in this race.
So will all of these players run from the fray when Facebook throws down its 400 million-user glove? I don't think so.
There comes a time in the life of every hot software product's life (whether a Web 2.0 company or a shrink-wrapped software product) when its legacy of features and its sheer complexity, momentum and size, keep it from being as creative and cutting edge as it once was.
Witness Google, with Google Buzz, which has generated some interest but doesn't really seem poised to destroy Twitter. Or Microsoft Word, which added HTML capability years ago but will never be used by serious Web developers. Once an entity gets enough momentum, it will always be what it has become.
Facebook will remain burdened with all of the things Facebook is famous for, like Farmville, Mafia Wars, and miles-wide-of-the-mark contextual advertising. (Aren't you glad they still offer a “Poke” feature?) And there's something nice about simple, uncluttered, standalone apps, particularly in a mobile environment. Part of Foursquare's appeal is that it does one thing really well.
I guess Facebook could clone Foursquare's badges and point system, but then it would be Foursquare screen scraped into Facebook. If Facebook can develop some unique capabilities or strategic alliances to enhance user check-ins, maybe they'll steal some users from Foursquare, but right now Foursquare is generating buzz, and, more important, signing deals with Zagat, Starbucks, Warner Brothers and others, an indisputable validation of the appeal and potential for the service. (Then again, if Foursquare is an acquisition target, these deals would make the company more appealing to whoever is going to absorb them.)
This is definitely the year of location-based social media, and a lot of interesting things are going to happen in the next nine months. Wagers anyone?
* I couldn't find current stats on Yelp's iPhone app user base, hence the discombobulated comparison
Link to original post