The company is currently seeking out advertisers who want to re-target ads to Web users based on their check-ins and to serve up interstitial ads via the Foursquare mobile apps platforms.
Foursquare has had a hard time raising money lately, relying on a funding round based around loans instead of outright investments. Many analysts have questioned whether or not the Foursquare business model is feasible.
Under the new system, users who check into stores might see a pop-up for that store’s products immediately upon check-in. Users might then see the same or similar ads the next time they are sitting at their desktop or using their notebook.
Foursquare hopes to launch the retargeting platform next month. Foursquare is currently asking for $50,000 per expenditure.
Foursquare is likely to come under fire for retargeting because of its focus on user tracking; however, many apps now retarget and the practice is becoming more commonplace.
Pop-up ads, in the meantime, are expected to surface in June or early July. Foursquare is asking for interactive ads since they perform best on mobile devices.
Do you think Foursquare can still pull itself out of the dumps and turn itself into a different, more involved internet-based platform?