Foursquare has experienced massive growth in the last twelve months, with nearly 1 million checkins taking place each day. In fact, it was just over two months ago that the company passed 40 million checkins.
As more and more brands get on board with geolocation via Foursquare and its competitors, which include Loopt, Gowalla and Brightkite, mainstream exposure to the services and the idea of location-based networking is increasing all the time.
Location-specific data is poised to become a really big space for advertisers and, by extension, search engines. Foursquare Co-founder Dennis Crowley said that the company is in talks with the major search players and that the data his service generates could be of big interest to the next evolution of search.