Foursquare has taken off the kid gloves and is ready to start making money. After rolling out "Local Updates" last week, letting any merchant allure potential nearby customers by sending out status updates, it launched "Promoted Updates" today.
Promoted Updates, which is still in pilot, takes the idea of Local Updates up a notch. Rather than being available to any merchant using the check-in service, Promoted Updates is only for those merchants willing to pay Foursquare on a "cost per action" model, according to TechCrunch. While in pilot, there are roughly 20 participating companies, … Read more