Foursquare just named David Shim as its new Chief Executive Officer.
Shim is replacing Jeff Glueck, who took the reins from Foursquare’s founder and first CEO Dennis Crowley in early 2016. Glueck first joined Foursquare as its COO in 2014.
Shim joined Foursquare earlier this year. The location-tech platform acquired rival Placed -- the company he founded in 2011 and then sold to Snap for somewhere between $125 million and $200 million in 2017. How much Foursquare paid Snap for Placed was never disclosed.
Since the acquisition, Shim has served as Foursquare’s president.
Foursquare says its platform raked in approximately $100 million in revenue this year.
By its own estimate, that’s thanks to ongoing relationships with over 1,000 advertisers and more than 150,000 developers that rely on Foursquare technology for location-based services.
This year, Foursquare also said it surpassed 100 million “points of interest” -- or geographical locations it deems to be potentially relevant to users -- as well as 100 million devices measured on a monthly basis.
“This has been a monumental year for Foursquare,” Shim said.
Going forward, the company plans to make additional investments into core product offerings, including Placed powered by Foursquare, Developer Tools, Data Solutions and Pinpoint.
The company also plans to expand its commitment into Foursquare Labs, Foursquare’s research and development arm focused on inventing next-generation location technology, which is still run by Crowley.Earlier this year, Foursquare raised $150 million in funding, led by The Raine Group.