Why Facebook Won't Buy Loopt (or, The Crap Value of Location Based Networks)
Facebook would have no reason to buy Loopt for its userbase or iPhone app. Facebook already has a gigantic userbase — 400 million users worldwide. And the Facebook iPhone app has 28 million monthly active users, according to its app page. Loopt is much smaller.
Business Insider hits a point that’s been bugging me every time I hear about VCs funding location-based networks.
They’re so small and so easy to make there’s no reason for any digital property that could buy them to buy them.
Sure, FourSquare’s got buzz, engaged users, and some mainstream crossover. But how many people use it…400,000?
Facebook has 70 times that amount using its iPhone app alone. They could push out an update tomorrow that turns on location features. Even Windows Mobile is bigger than FourSquare by a factor!
What is the value in these networks?
Source: Business Insider
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ryanbrown liked this
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thepiratefuture reblogged this from dbreunig and added:
FourSquare has been closing ad sales recently. Run rates are In the neighborhoods of just three digits for restaurants...
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dbreunig posted this
