Looks like Foursquare isn’t the future of smartphone apps after all

A couple of years ago, Foursquare was widely viewed to be in the vanguard of smartphone apps. Check in at the Four Seasons Shanghai and post it on Twitter, compete with your friends to become the mayor of your local Irish pub, and so on. What could be more hip? Well… pretty much anything, including virtual beauty shops for fantasy creatures. A new expose by Bloomberg Businessweek drops a major bomb about how incredibly weak Foursquare’s revenue base is — only $2 million in sales in 2012. Betabeat notes that despite its high media profile, Foursquare had only 8 million active monthly users at the end of 2012. In a fascinating turn of events, Foursquare was still able to tap



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