The popularity of Foursquare is rapidly increasing. Now the user’s location based social networking has penetrated numbers 3 million. Foursquare social networking is getting a significant addition of the user. Beginning in July and reached 2 million users and now within a month and a half has been increased by one million users.
Many predict Foursquare will end when Facebook is also launching location-based features, Places, several weeks ago. Co Founder of Foursquare Dennis Crowley reported that Foursquare has gained the biggest day of registration after Facebook issued Places. “Now that 180 thousand new users popping up every day,” Crowley said as quoted by the LA Times.
To be able to achieve success and growth as the current user Foursquare raised fund of U.S. $ 20 million, $ US95 million for the initial financial assessment, participate investments with Union Square Ventures and O’Reilly AlphaTech Venture. Funds used to hire new immediate additional staff, product development and new office workspace. The company also opened an office in San Francisco.
Foursquare is facing stiff competition from location-based social networking, Gowalla. The social networking now also already has a user numbers up to three million people. Another competitor that is My Town also broke the three million and Loopt has exceeded the level of 4 million users in the last month. Foursquare users will certainly grow again until million in the next month. Moreover, Foursquare has posted a billboard in Times Square and a new service version will come out soon.