DeHood for iPhone takes on Foursquare, Yelp! and others with massive updates in version 2.0.

DeHood, an iPhone app which recently moved in to the location sharing services market, is now upgrading, in a big way.  Using DeHood one can check in and interact in real-time with others in your area making it a slick combination of  Foursquare, Gowalla, Yelp!, and now, MyTown, with added gaming elements, virtual currency, and more.

Still wonder what DeHood is, and what sets it apart?

The reason for creating DeHood and what sets it apart according to CEO Babak Hedayati comes from his background and life experiences:

“As the founder and early-stage employee of a number of start-ups, I have spent a lot of time on the road. The more I travelled, the more I longed to be back home and to be a part of those things that I had been missing. I wanted to feel connected to my friends and family in my neighborhood, and to find out what was happening to those people I cared for, in the place I most wanted to be.  I realized that I could put my previous experience to use as CEO of a social networking company for the good of local community – that’s when DeHood started.”

DeHood, a free iPhone app with accompanying website, was already an interesting player in the location sharing arena with items such as, “Places,” deals and coupons through its “Shop” section, and the ability to meet and interact, in real-time, with others using DeHood’s “People” feature.

Today’s updates to DeHood, version 2.0, has made the battle for location sharing dominance even more interesting.

Here’s our Chad Catacchio interviewing CEO Babak Hedayati yesterday in Los Angeles as part of Social Media Week:

Version 2.0 offers:

• A new, slick, interface

• The ability to collect “Points” and “Hood Bucks” for social activities.
• A new KingofDeHood Game
• Share functions for Facebook and Twitter
• New Buzz Features

• New Places Features

• The Ability to Purchase Hood Bucks and earn rewards

DeHood was already a grand way to discover new things locally, interact with fellow denizens of your city in real-time, save on anything when shopping and more.  Version 2.0 is a huge leap forward and makes DeHood one of de better apps one can have on an iPhone, iPod touch, and/or iPad.

Are you a DeHood user?  What do you like about the app, and what new feature(s) really grab your attention?