We got the pitch deck Foursquare is using to sell advertisers location data — even as regulation and privacy concerns mount
has thrown that into question. Europe's General Data Protection Regulation and the upcoming California Consumer Privacy Act limit advertisers' ability to use people's mobile data for ad targeting. Some location targeting firms have shifted their businesses to focus on data software and struggled to stay profitable.
Foursquare claims it's an outlier, though, with Foursquare and Placed together making more than $100 million last year.David Shim, the founder of Placed and now Foursquare president, shared the company's pitch with Business Insider.Foursquare wants to supply all marketers' data needs
Foursquare collects location data from 13 million consumers who voluntarily share it in return for money or use of Foursquare's apps to check-in and discover locations. Foursquare also licenses its data to more than 450 companies including Twitter, Amazon and Roku.
Placed matches ad exposure with location data to see stores and locations consumers visit after viewing an ad. Until being acquired by Foursquare, Placed lacked other kinds of location data that marketers use for ad targeting or tools that help developers and publishers plug location into apps, though, said Shim. Now, it can provide the entire location tech stack — similar to The Trade Desk's
tech stackthat powers programmatic ads across display, mobile and connected TV."In two months, we've seen a lot of traction in getting deeper with agencies," he said."Agencies are telling us that they want a single solution that can do all things well."
These two slides in Foursquare's pitch deck show its scale and breadth of its business.FoursquareFoursquareMarketers are asking new questions about privacyWith California's privacy law coming, Shim said advertisers are asking how Foursquare gets consumers' permission to use their location and where its data comes from. It's similar to the questions they asked
several years agowhen they realized that many ads were going unseen due to ad fraud and bots.Shim said Foursquare's first-party panel data gives it a leg up over competitors. Under Snap's ownership, Placed was required by the Federal Trade Commission to follow by the same security rules Snapchat must meet as a public company. Foursquare has a direct relationship with consumers through its own apps, which distinguishes its first-party data, he said.
Foursquare is working towards faster measurementFoursquare said it's speeding up its delivery so advertisers will get location data reports daily instead of weeks or months. Marketers will also get weekly reports comparing the performance of digital and TV ads, Shim said.Read more: Business Insider »
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