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Foursquare Passes 20M Users

While still very much a niche service, Foursquare says it surpassed 20 million users, and 2 billion check-ins. “In 2010, foursquare fans declared April 16 4sqDay,” the location-based network notes, explaining the date is literally four squared. “Two years and 2 billion check-ins later, you’re still why we get out of bed each day. Thanks to all 20 million of you for making us part of your lives. Happy 4sqDay!”

How fast is Foursquare growing? Well, as Venture Beat notes, it surpassed 15 million users back in December, and in March founder Dennis Crowley said it was close to 20 million users. “While it’s not growing as fast as uber-popular Instagram, Foursquare’s steady growth shows that there’s still plenty of value left in its check-in model, even if its revenue prospects are cloudy,” VB writes.

“The company stands strong while its biggest competitors, Gowalla and Facebook’s Places, are now out of the game.” To date, the New York City-based startup has raised over $71 million -- the bulk of which came last summer with a huge $50 million round, which valued the company at $600 million.


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