Foursquare and Factual have joined forces with the aim to become a location-based data giant.
Foursquare CEO David Shim boasted that by combining the two companies, “Foursquare is now the undisputed independent leader in location technology and data”.
“Individually, we’ve each built strong, successful companies that have made significant impacts on the industry,” he said in a blog post.
“Together, we’ll drive new, market-leading innovation to enable organizations around the world to further tap into the power of location, while continuing to serve as outspoken leaders calling for the responsible collection and use of data.”
As part of the merger, Factual founder Gil Elbaz will join Foursquare co-founder Dennis Crowley on the executive team and board.
Shim will remain in his position as CEO. Shim was appointed to the CEO role at the end of last year after joining Foursquare in June as president.
This latest merger follows Foursquare’s acquisition of Placed last year from Snapchat. Placed was founded by Shim in 2011 before it was acquired by Snapchat in 2017.
“Following Foursquare’s acquisition of Placed last year and upon the integration with Factual, together we’ll offer customers a united product portfolio, providing the best in highly scalable audiences, offline attribution, point of interest (POI) data and developer tools that will enable companies to tap into data and insights that optimize their marketing and business decisions,” Shim said.
Foursquare also boasted that the “new” Foursquare would give the company access to more than 500 million devices worldwide, and more than 105 million points of interest across 190 countries and 50 territories.
Microsoft, Uber, Samsung, and Twitter are some of Foursquare’s existing customers.
Naver Labs, the research subsidiary of South Korean search giant Naver, will work with US-based Foursquare to develop a new point-of-interest (POI) search engine for global deployment.
Salesforce plans to use the acquisition to bolster its own data analytics capabilities within Marketing Cloud.
Twitter, Instagram, and others are stumping up $5.3m to settle a privacy suit with implications for those who used social-media apps on an iPhone in 2012 or earlier.
Hackers targeted the tech companies as recently as February 2016, but Foursquare denied a breach.