How SCVNGR And Founder Seth Priebatsch Hope To Win The Location Game

"We want consumers to have a great time," says SCVNGR founder Seth Priebatsch, "and we also want business to love it enough that they're willing to pay for it."

SCVNGR is a company that takes fun very seriously. Upon entering their office complex in Cambridge, MA, you'll notice quickly that this is no ordinary workplace. The 22-year-old founder, Seth Priebatsch, roams the offices barefoot, his signature orange Oakley sunglasses always perched atop his head. Employees have professional titles like "Executive Rockstar" and "The Instigator." What else would you expect from a company whose mission is to "build the game layer on top of the world?"

Unlike many other products in the mobile location space, SCVNGR launched with a revenue model on day one around brands creating "challenges" for their customers to complete at geographic locations, such as a store or restaurant. While I'm admittedly skeptical about the entire location industry, it's companies like SCVNGR that are starting to change my mind about the revenue potential. Seth Priebatsch dropped out of Princeton after his freshman year to pursue SCVNGR; let's see if he made the right choice.

Last week on Co.Location: SimpleGeo's Pivot From Smartphone Gaming To Location Service Powerhouse

Howard Lindzon is the co-founder and CEO of StockTwits — a social network for traders and investors to share real-time ideas and information. StockTwits was recently named one of the 10 Most Innovative Web Companies in 2011 by Fast Company and one of the 50 Best Websites by Time magazine.

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