5 Million Users: Foursquare’s Milestone

Check-in service Foursquare has officially hit the 5 million user mark and impressively has increased its user base by 10 times in the last 9 months.

Back in March of this year the company announced it had reached 500,000 users and now less than a year on it is celebrating the big milestone of 5 million. CEO and Co-founder Dennis Crowley made the big announcement on the stage of the LeWeb Conference in Paris and revealed that the achievement had been made late last week. Mashable has said that the geosocial site recently thought they had passed this marker before, but it was a false alarm.

Foursquare had noticed that they had over 5 million user IDs although this did not necessarily mean they had that number of unique users. Upon closer inspection it became clear that they were below this figure although they maintained they would have gone past 5 million by the end of the following week. Crowley said after announcing the milestone that “soon everyone will be checking in”. Surely that is a hint that there is a huge increase in check-in competition to come and if so will it affect Foursquare?

Mark Sullivan over at PC World thought so, however Crowley has been reported as saying that the threat from Facebook Deals is ultimately good for the industry and that Facebook is no threat because his company is offering more and something different. What do you think about Foursquare’s achievement? Let us know if you think they will become the leading service for check-ins or will crumble to a newer competitor.