Even though Foursquare has over 5 million users, location based services can’t really be considered mainstream yet. Most average people have never “checked in”, and those that do are starting to wonder why they’re participating. The mass adoption of smartphones continues to help Foursquare and its competitors grow their user bases, but unless these companies figure out a way to effectively engage and monetize this base of users in the long term they’ll remain relegated in the realm of cutting edge Internet fads.
In the interview excerpt below, Foursquare co-founder Naveen Selvadurai discusses what aspects of location based services appeal most to consumers, as well as how the platforms his company has developed can scale to reward, engage, and serve users and the venues to which they “check in”.
[Via: Business Insider]