Foursquare in no rush for public finance as it hits 6 million users
Location-based social service Foursquare has grown by 3,400 percent in the coming year, reaching 400million 'check-in's and 6 million users. Following the stats, the start-up said that despite competition from Facebook Places and rival service Gowalla, Foursquare is in no rush for a sale or public offering.
The service grew from 100,000 users to more than 6 million in the last year and raised $20million in funding last summer. Recent reports suggested Foursquare was a takeover target for Yahoo, and after discount coupon site Groupon was estimated to be worth $15billion, Foursquare bosses are likely to resist any approaches this year.
60% of Foursquare users 'check-in' from the U.S, though the service has enjoyed a healthy profile in the UK and recently revamped its business pages, offering advice to venue owners and brands on how to extract benefit from the service.