- Mobile location-based social app Foursquare has announce the completion of a $35-million round of funding.
- Investments come from DFJ Growth and Capital Group.
- The funding will be put towards expanding Foursquare's real-time ad network that allows advertisers to market to users with coupons and deals based on their current location.
As mobile use increases, location-based tools like Foursquare may begin to show their monetary value. Up until now, Foursquare has struggled to monetize its platform with various ad options like promoted listings and homescreen ads. The problem with those ads is that mobile users must already be interacting with the app. With the new ad network, ads will appear based on physical location without having to open the app. Hopefully, the push notifications don't alienate a large part of its user base.