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.
