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Foursquare is good example of a modern hyperlocal site, which describes itself as “50% friend-finder, 30% social city guide, 20% nightlife game.” Watch out for local sales force requirements. Look at how large Groupon and Living Social’s sales forces are, and they are still struggling to maintain profitability.
The sales helped them raise $30K and the attention of a startup incubator, which offered them training and another $20K in funding. Before Jobs returned to the business in 1997, its sales, and popularity all steadily declined for 12 years, nearly driving it into bankruptcy. Thanks to Lorie Carson, Real People Finder ! #20-
Foursquare is good example of a modern hyperlocal site, which describes itself as “50% friend-finder, 30% social city guide, 20% nightlife game.” Watch out for local sales force requirements. Look at how large Groupon and Living Social’s sales forces are, and they are still struggling to maintain profitability.
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