Good info on how Foursquare monetizes data:
Since Pilgrim went online in early 2014, the company has started “finding interesting things to do with the data” it collects, Crowley says. It already licenses data to Twitter, Pinterest, Yahoo, Microsoft, and others to enhance their location features (Foursquare used to power location tagging in Instagram before it was replaced by Facebook’s own tool.) In the last year, Foursquare has started offering business analytics with its foot traffic data, which Crowley describes as “an incredibly lucrative market.”
Advertisers, for instance, can pay to see if their campaigns actually drove people into a Macy’s or car dealership. Because Foursquare knows where its users are going, banks that give small business loans pay Foursquare to know if a business actually exists and isn’t a scam. It works too. In September, Foursquare accurately predicted Apple would sell 13 million iPhones during the iPhone 6S opening weekend based on its foot traffic data around Apple stores.