The location based social network, Foursquare has hit another milestone this week when it announced that its number of users has swelled to 4.5 million.
That’s pretty good going but what will the future hold for Foursquare and for other up and coming location based social networks and services?
There are many detractors out there when it comes to location based services and many of these detractors are of the opinion that location based services are very much in their infancy (which I agree with) and that it won’t work in the short term. Well Foursquare is racking up the numbers on its platform and it is succeeding in the short term. My question is what are the long term prospects of services like these?
I think that if Foursquare continues to innovate and offer value to businesses as it is doing, albeit on a a scale that can be ramped up, then it may just stand the test of time and continue to grow, what do you think?