What's New About the New Foursquare?

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Aug. 6 (Bloomberg) -- Foursquare CEO Dennis Crowley discusses the company's revamped flagship app with Emily Chang on "Bloomberg West." (Source: Bloomberg)

Another app.

Joining me now is the cofounder and ceo, dennis crowley.

Local search, that is what you are focused on now.

What is foursquare today, and why do you think this is a way forward?

Foursquare has always had a huge focus on local search.

It has been part of the core story since 2009, 2010. over the last five years, we have had some and -- so much data on the type of places people go to and what they do when they check in.

What we are trying to do is make this a personalized version of local search.

If you go to yelp or google, everyone gets the same search results, no matter what you are searching for.

We want to change the results depending on what they love, what their case are and where they have been.

I agree that.

-- with that.

I certainly could have used this when i was walking around looking for a restaurant to heat at before the beyonce and jay-z concert last night.

But foursquare has these gay medication features of mayors and -- these game-if vacation features of mayors and badges.

Are you sacrificing these or seeing more?

We looked at the app that we created and the ecosystem that we created.

Some people want to use the search, but not check-in.

Some people did not even know we had a search feature.

We have seen about 90% of the people checking in on the old foursquare app two months or so ago checking in on swarm.

We have lost a couple of users, but we are excited about the way the company is set up to dominate the search with the foursquare app.

Help us -- you know, helping you meet me up and keep up with friends.

What makes you think that users will offer up this information willingly, when at the same time you have able flocking to secret apps and so much concern about privacy?

One of the great things about the new foursquare app is we are not sharing your location with friends anymore.

We heard that all the time, i love using foursquare, but i don't want people to know where i am all the time.

That is fine.

The place you go to, we do not share that with anyone.

Instead, it goes to making our recommendations smarter and stronger and more personalized.

You and i have talked so many times over the years postop the product has evolved.

You've always been super confident and positive about the future.

What do you think this next phase is?

Is this a make or break phase four foursquare?

I don't think it is make or break.

We have had a strong roadmap since we started the company.

It is about how we collect data about the interesting things that happen in the world, recycle that data, and give it back to people in the form of personalized searches.

We have been doing that up until now and i think we have a considerable lead over everyone else.

No one has built this type of location awareness type of technology the way we have.

We have so much data.

We have learned so much about the world.

And this is one of the first chances we really have to show everyone what we can do with the data that we have collected.

We are super excited.

You want to remain independent for now.

How long will you keep at its?

How long will you keep trying to break through?

We will keep doing this until it works.

We feel strong about the position of the company.

The company has been generating a significant amount of revenue, more already in 2014 that we generated all of last year.

We will continue to execute well.

Dennis crowley, ceo of foursquare.

This text has been automatically generated. It may not be 100% accurate.


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