Street Fight Daily: 03.02.12

A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.

LivingSocial to Launch Its First Credit Card (Reuters)
LivingSocial plans to launch its first credit card in coming months to help merchants attract repeat customers, Chief Financial Officer John Bax said on Thursday. The card, with no annual fee, will be offered with Chase, part of JPMorgan Chase, and Visa to all LivingSocial’s U.S. subscribers.

How LevelUp Is Taking a Page From Starbucks (GigaOm)
Ryan Kim: LevelUp still has more growing up to do. But it is showing that a start-up can make some noise in this crowded field of mobile payments, and it’s providing a lesson in how a payment system can work when it’s integrated into a deals and loyalty program.

10 Things to Know About Location Right Now (Ad Age)
David Berkowitz: Geotargeting is hardly a new discipline, but now that mobile marketing has emerged as one of the most important and effective ways to reach consumers, businesses can target people based on where they are to deliver personalized messaging and offers.

Background Location App Highlight Gets Funding As It Plans SXSW Update (TechCrunch)
Eric Eldon: The way Highlight’s iOS app works, in particular, is that it has you log in with Facebook, then it shows you anyone nearby who has friends or even just interests in common as you go about your day-to-day life (note that interests equals Facebook pages that you’ve mutually liked). In contrast with other location apps, like Foursquare, which are designed around users checking in to the places they go, there’s no friction — just pure discover.

How Yelp’s Business Works (Business Insider)
Yelp generates almost all of its revenue from advertising -— 91.4 percent for 2011. It’s primarily two kinds of advertising: Local advertising from businesses that want to be featured on Yelp, which is 76.8 percent of total ad revenue, and brand advertising (i.e. display and text ads on, which gets lots of traffic from search engines.

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