Foursquare Tops 2 Million Users: Loopt next target

Foursquare is a Social Network which allows you to ‘check in’ to places. You can then broadcast your location to all of your friends, earn achievements in-game and if you visit a particular place the most, you can become the ‘mayor’ of that particular location.

Designtaxi.com is now reporting that Foursquare has achieved the milestone of two million users. The article points out that other location-based social networks have more users. Foursquare’s competitors include Loopt, Brightkite and MyTown.

Foursquare gets revenue through user specific advertisement. Businesses can put ads into Foursquare, so when you sign in at a particular coffee shop, then you could receive an offer code for that shop through Foursquare when you check in.

There are privacy concerns when using Foursquare. You are broadcasting to the world your location data after all. For example, if my friend is broadcasting that he is at the train station, then this could be translated as him leaving for a journey, and so people could determine that he has left his house which could then be at risk of being burgled. Use this service at your own discretion.

Foursquare is successful because it combines many of people’s modern loves: Connectivity, achievements and the ability to spy on your friends to see what they are doing. Read the full article over at Designtaxi.com. Do you use Foursquare? Is it a privacy concern for you? Let us know in the comments.