Foursquare cuts coupon deal with LivingSocial

Foursquare will start distributing coupons for other group buying companies, including Groupon and LivingSocial, in a bid to shore-up its revenue streams.

In an interview with the Wall Street Journal, Foursquare co-fonder and CEO Dennis Crowley said the service will start distributing the third-party coupons this week.

Foursquare has cut deals with LivingSocial, Gilt Groupe and US telco AT&T to distribute discount coupons to its users in return for checking in to certain venues.

The start-up company is understood to be negotiating a similar deal with Groupon and will take a commission for every coupon that is redeemed, according to Crowley.

The move is a bid to build a solid revenue stream for Foursquare, which has amassed 10m unique monthly users since its launch three years ago.

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