Foursquare Unveils Social-Ad Platform Called Pinpoint
Foursquare Co-Founder and CEO Dennis Crowley took the stage at Ad Age's Digital Conference today to introduce Pinpoint, Foursquare's new ad platform.
"We want to help solve the problem of how to connect users from the digital to the physical world," Mr. Crowley said of Pinpoint, which uses data to build user profiles.
Pinpoint's website describes the platform as a "full-service advertising solution powered by the world's most accurate location intelligence available." Mr. Crowley said the platform will use Foursquare's first-party location intelligence and third-party GPS information from apps and publishers to help make sense of consumer behavior and add context to data.
"Fundamentally, the places that you go are the best indicators of who you are," Mr. Crowley said.
He added that the company has high expectations for the platform and expects it to become a significant revenue stream for Foursquare. The company has experienced triple-digit growth each year for over three years, according to Chief Revenue Officer Steven Rosenblatt.
Launch partners include AT&T, Choice Hotels, Coors Light, FedEx, Jaguar Land Rover, Olive Garden, Samsung Galaxy and Wild Turkey.