Fast Company reports on the latest move by Foursquare to jump into the world of location-based advertising. It has announced a new ad product called Pinpoint, designed to use historical location data to target relevant ads. The goal is to serve up ads based on where users have been in the physical world through the use of Swarm and Foursquare smartphone apps, for “six years of first-party location intelligence, which has created a map of the world the way your mobile device sees it.” Foursquare will also get location data from nonusers. According to the report, it’s not exactly clear where that data will come from, although Foursquare does have partnerships with Microsoft, HTC, Pinterest and Twitter.
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