Foursquare has settled on a $20 registration fee for businesses that want to be added to its location based service.
The new fee was settled on after the service tested out various price points for the service and found that most business owners were receptive to a one-time $20 fee.
1.4 million businesses have already registered a Foursquare business page and those companies paid various prices for the right to be listed within the services mobile-heavy platform.
Companies that have already signed up for the service can pay the $20 to receive better control over current listings. That better control includes the ability to add relevant information such as a business description and hours of operation.
Foursquare settled on its new $20 business registration fee just months after receiving $41 million in new funding from investors who are now demanding that the company turn a profit.
In 2012 Foursquare raised just $2 million in revenue.
If you own a business will you be paying $20 for better control over your Foursquare profile? Are you okay with registering for a first time with Foursquare at a one-time cost of $20?
I think that it is smart on their part…wasn't it free to begin with or was that just for the users? It was so popular when it first came out with all of my friends, but it seems to have died down with FB allowing you to add your location already now.