Today, Foursquare’s CEO, Jeff Glueck, published a Medium post describing the company’s strides over the last year. The location intelligence company seems to be having a resurgence after a few bumpy years. According to Glueck, the company has seen revenue grow 50% or more over the last three year consecutive years. Two years ago, the company announced a new path toward profitability. This announcement, however, doesn’t mention that evil “profit” word.
Its growing user base is another business boon for Foursquare. “We now see over 3 billion visits a month around the globe, thanks to a panel of more than 25 million people who have opted into always-on location sharing,” writes Glueck, which is adds is more than double what it was last year.
With 25 million people opting to share their location data at all times, this could mean that Foursquare is becoming more of an advertising powerhouse. The post pointed to its advertising services seeing an increase in customers, as well as some of its services seeing revenue more than double.
Still, at least in the U.S., its City Guide app isn’t the most popular one. According to AppAnnie, the app has only ranked in the top 1,000 overall U.S. iPhone apps three times in the last 365 days.
Glueck says that the company is planning to expand with a new engeineering office in Chicago. He adds that the company plans to grow the team by 30% in the coming year.
You can read his full blog post here.
This story has been updated.CGW