by William White | August 22, 2013 9:50 am
Yahoo (YHOO) is in talks with FourSquare to obtain the start-up’s location data.
FourSquare is a service that collects location data based off of user’s experiences. The service collects data from users when they go out to eat, watch a movie or get a haircut via its mobile app. FourSquare has a large database of location information due to its users checking in when they go somewhere. FourSquare provides valuable information on locations, including what time of day they’re busy and how the weather affects them. FourSquare doesn’t require users to give locations a rating, instead the service handles that ask itself. FourSquare rates locations based off of how frequently users check-in there, comments about the locations and many other small and subtle points of data. FourSquare’s location data has become more valuable since Google (GOOG) purchased Waze, which primarily collects data on traffic, streets and intersections, reports BuzzFeed.
“We can obviously not comment on deals that aren’t done, but what I would say is there is a lot of very well-known companies that have expressed extreme interest in our data,” Holder Luedorf, head of business development at Foursquare, told BuzzFeed.
YHOO shares were up 1% as of Thursday morning, continuing a 38% year-to-date run.
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