Foursquare, a location-based social network headquartered in New York City, will be merging with Factual, a repository for location data. Foursquare will retain it’s name and become the face of the two companies. David Shim will continue to operate as the CEO of Foursquare while Factual’s Gil Elbaz and Foursquare’s Dennis Crowley will serve as executives. Before serving as CEO of Foursquare, David Shim founded Placed, a location intelligence platform that was acquired by Foursquare in 2019.
Collectively, Foursquare and Factual have more than $150 million in revenue, a data collection from more than 500 million devices worldwide, and a working relationship with half of the Fortune 100 companies. Financial terms of the merger were not provided to the public. Together, the two companies will provide their audiences with a united product portfolio, developer tools, offline attribution, and point of interest data.
Foursquare has evolved since launching at SXSW back in 2009. The company originally operated as a social network where friends could check into public places and share their location with friends. Today, the company operates as a marketing and advertising platform that provides data to clients such as Starbucks Corp. and Taco Bell Corp. Foursquare’s data has also been used to compliment apps like Uber, Snap, and Twitter, and is a part of the Yext roster of citation listings.
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