Foursquare doesn’t have a revenue problem — it has a user intent problem

Originally posted on VentureBeat:

dennis crowley foursquare

NEW YORK — Foursquare CEO Dennis Crowley was on the defensive again today, responding yet again to the persistent misunderstanding that his company doesn’t know how it’s going to make money.

“A lot of folks think we aren’t generating revenue or that we don’t care about revenue. They’re wrong,” Crowley said on stage at TechCrunch Disrupt, a startup conference here, this morning. “This past March was our highest-generating revenue month so far. We expect to see that going forward.”

In summary: Foursquare is making money, but no one actually believes it.

Foursquare’s plight contrasts strongly with the success of shopping app Shopkick, which is pulling in cash in ways that most location-based mobile apps — including Foursquare — have so far been unable to. The app, which rewards people for shopping in certain stores, helped Shopkick’s partners make $200 million last year. More notably, it also allowed Shopkick…

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