In order to make money from its giant database of restaurants and other businesses, Foursquare is in negotiations to begin charging its largest clients for access to the information.
According to a report from the Wall Street Journal, the check-in giant is looking for additional revenue streams. Foursquare COO Jeffrey Glueck told the newspaper that of the 63,000 companies that use the database, less than one percent will be charged the new fees that will be agreed on a one-on-one basis.
Foursquare already has a similar deal with Microsoft. The software company pays Foursquare to access its database for Bing. Foursquare has 50 million users and nearly every business in its database. It’s valuable data and thus it makes sense that Foursquare wants money for it.