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May 9th, 2012 
FAKE NEWS for the Zionist agenda Foursquare is planning a new way to make money from its 20-milllion strong, location-sharing network.
The company will launch a redesigned app in July that allows merchants to buy placement for their promotions, Foursquare cofounder and CEO Dennis Crowley told The Wall Street Journal in an interview.
[More from Mashable: Foursquare Tops 20 Million Users]
Foursquare already allows businesses to use the platform to promote specials on their own venue pages. What Crowley has in mind is a bit different. It would highlight promoted specials from a venue before users arrive on its venue page.
To redeem the specials, users will still need to check in.
[More from Mashable: Behind the Scenes at 9 Hot Tech Startups [PICS]]
“We’re getting really good at connecting people with places, and connecting those places with people,” Crowley said in the interview. “Instead of serving up places we think you might be interested in, we can do the same things for businesses, and [tell them] these are the folks that are most likely to come here, based upon their check-in habits, based upon the places they’ve been to and their friends have been.”
Crowley also described a new product that will guide users to places that they or their friends have been to once they arrive in a city.
Some have questioned the value of check-in services like Foursquare. A December 2011 study from Forrester Research found that just five percent of U.S. adults use any location-based check-in services, which suggests that that checking in has a long way to go before reaching the mainstream.
And compared to the breakout success of photo-sharing app Instagram, which passed 50 million users last week, or video-sharing app Viddy, which now has more than 26 million users, location-sharing may seem tired.
But Crowley told the WSJ that there’s a reason location-sharing hasn’t caught on with the same fervor as some other social apps.
“Video sharing and photo sharing are fundamentally different than location sharing,” he said. “People are still warming to the idea of location sharing. We are inventing this category, or really pushing it forward.”
A Foursquare spokesperson did not immediately respond to a request for comment.
This story originally published on Mashable here.
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