May 26, 2016
A new industry merge between two prominent tech companies will help consumers navigate and arrive to their destinations faster.
Industry forces Uber and Foursquare are joining together to create a stronger navigation system. The goal, according to a blog post created by Foursquare, for the new deal will mean Uber customers will have an easier time finding their specific destinations, leading to smoother ride experiences. This will all be done utilizing Foursquare’s ‘Places’ data.
Mike Harkey, the Vice President of Business Development at Foursquare, had this to say in a blog post on the deal:
“There are a lot of obvious reasons why this is such a big deal to us, but there are also some really interesting nuances to this deal too. On the obvious side, Uber is a phenom. It’s completely changed the way we move through the world, disrupted entrenched transportation industries, created tons of economic opportunities, and all on a seriously global scale. Foursquare will enable Uber to customize, improve and increase the breadth of our non-personal POI location data to enhance Uber’s rider and driver experience. Also, these modifications will also be incorporated into Foursquare’s venue database going forward. It’s a natural fit for us to partner with Uber as a POI supplier.”
A lot of the details of the deal are still unclear to the public as of yet, but Foursquare describes that this deal is “global, multi-year agreement”.
This deal is also incredibly important for both companies, but particularly for Foursquare. This deal can move Foursquare forward to data-driven business model, which will make the company more accessible and adaptable business for consumers. After all, utilizing a popular service like Uber helps reposition Foursquare into the public sphere.
No matter how this deal will unfold, it will still hold positive reinforcement for the future of Foursquare, Uber, and the ways that data-driven business models can affect evolving businesses, no matter how established they are.
Image credit to Benjamin Child / Stocksnap.
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