Foursqure Hits 2 Million Users

Foursqure has been very talked about recently and the location-based service is the most popular, at least in terms of media attention, product of its kind. And all the attention has been paying off, Foursquare now has over two million users, having passed the one million mark just three months ago. The growth rate is impressive, though it's not the largest location-centric service around.

Foursquare hasn't made any official announcement just yet, but since all users have a unique id number assigned chronologically and since users are now getting assigned ids bigger than two million, it's easy to put two and two together. Still, this is not the most reliable method for determining user numbers and other factors may be at play which would render the number inaccurate.

Even if the number is accurate, those are registered users, not active users which is what most sites and services report. In fact, it would be very surprising if the number of monthly active users is anywhere near the number of registered users.

That said, it indicates an impressive growth rate for Foursquare which celebrated reaching one million users in late April. In less than three months, it has doubled its user base. Even if not all of the new users are active, the fact that they've just signed up may indicate that most of them haven't given up already.

Foursqure has just closed a $20 million funding round valuating the company at $95 million. There was a lot of interest in Foursqure from would-be investors and companies, like Yahoo and Facebook, interested in acquiring it outright. Yahoo is said to have been offering about $100 million, a tempting figure, but Foursqure opted to remain independent and raise some funds to help it continue to grow at this rate. [via TechCrunch]