Nishtha KanalAug 30, 2013 14:22:35 IST
Social check-in service Foursquare is apparently in “advanced talks” with Microsoft and American Express over strategic investments. A Bloomberg report says that the companies could be vying for an equity stake in Foursquare Labs Inc.
Sources have suggested that the companies seem to be competing among themselves to invest in the social company rather than think of a joint bid. Foursquare on the other hand is said to be talking companies other than Microsoft and American Express as well.
Foursquare recently unveiled a Windows 8 app, built specifically to suit the platform, complete with horizontal scrolling and recommendations. It makes sense for Microsoft to mull over a stake in Foursquare.
Microsoft checks in at Foursquare?
This will also mean better baking in of Foursquare’s product and technology within Microsoft products like Surface and Windows Phone. Not to mention, Microsoft could have a solid name in social media and mobile, something that the company seems to be lagging behind as far as competition is concerned.
For the uninitiated, Foursquare is a social application that uses your phone’s location to show you establishments and places around your area and let’s you “check-in” to them. Every single check-in of yours counts and you could end up becoming the mayor of the place. Foursquare also sends you recommendations of where to go and where to eat in a particular area that you’re frequenting. Most importantly, it lets establishments and businesses tie up with it and offer discounts and freebies to users.
American Express, on the other hand, is trying to tie up marketing and loyalty points schemes with social networking websites. It already offers users in US points for checking-in to certain locations or shopping in certain establishments via a Foursquare tie-up and it does make a lot of sense for the company to press for a deeper integration with Foursquare and its services.
Foursquare, of course, refused to comment on this matter. However its growing association with Microsoft will be interesting to chart. The investment could open up a world of possibility for both the companies if they decide to take the plunge.
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