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Foursquare is to allow advertisers to use its data when targeting ads bought through ad exchanges or networks.
AdAge reports that Foursquare is currently pitching the new data-based ad product, its first attempt to generate revenue outside of the app, to digital agencies. “We are always looking at ways that could make our data more useful for advertisers and partners, while respecting the privacy of our user’s information,” Foursquare said in a statement. “We’re really excited about our 2013 monetisation road map, and will provide more details when the time comes.”
AdAge reports that Foursquare only made $2m in revenue in 2012 from its various ad products.
Foursquare last week released version 6.0 of its app, which puts local discovery to the fore.
The post Foursquare pitches new data-based ad product to agencies appeared first on The Appside.
