Foursquare Adds Groupon to its Daily Deal Partners
Foursquare has been establishing partnerships with a host of companies in the daily deals arena these past few months. Starting today, the company will be offering Groupon deals as well. Groupon deals on Foursquare are currently being offered in the Chicago area only, with plans on expanding to the rest of the US and Canada by Friday. The revenue split of the deal was not disclosed.
The partnership has been speculated for months now, as Foursquare managed to close a similar deal with LivingSocial, Gilt City, Zozi, BuyWithMe and AT&T in the last month alone. They look forward to making daily deal redemption “completely seamless, frictionless and magical.” As for credit card transactions, Foursquare has teamed up with American Express, a company that’s pushing social with a partnership on Facebook as well.
“Today, we’re happy to announce that the partnership is going national. Across the whole country, at select merchants, you can now check-in with foursquare, pay with your American Express card, and get big savings on your monthly statement.”
Foursquare is booming, and the 10 million-strong user base speaks to its success. Hyperlocalization may still be a fresh trend, but it highlights the importance of location awareness to draw in more customers. Meanwhile, Groupon’s success has pushed it to consider an IPO for an added $750 million funding, with Morgan Stanley, Goldman Sachs and Credit Suisse as the lead underwriters . It even turned down Google in an acquisition offer.
However, Groupon’s much expected IPO may be delayed for another month because of the “digestive problems” it’s causing the US Securities and Exchange Commission. “It does sound like it’s getting some resistance and it sounds like it’s because of the pro forma number that the company is pushing so hard,” Sauer, who served as assistant director at the SEC from 1990 to 2003, said yesterday in a televised interview with Bloomberg West.
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