Foursquare announced today it will charge businesses a fee of $10 to instantly verify their page online. In the past, restaurants, bars, and shops have had to mail in their application and wait for approval. The process typically took weeks to complete.
While the development won’t likely create a huge windfall of revenue for New York-based Foursquare, it should entice merchants that want to get started running specials right away. They will also be able to immediately use the platform’s analytics dashboard by paying the rather small fee.
Anything the geo-social company does to create more business- and user-level scale should probably be seen as a positive. Two weeks ago, Foursquare announced it had cleared the 20 million user threshold, while attracting 750,000 busineses to its platform.
As it prepares for a 2017 IPO that could be the largest in the social media space since Facebook went public in 2012, all eyes are on Snapchat.
What would we do without social media?
Facebook isn't just the world's largest social network. In the past two years, it has also become one of the world's most popular online destinations for consuming video content.
If your responsibilities have anything to do with marketing, advertising, PR or social media, you can’t afford to be camera-shy in this day and age.