A roundup of today’s big stories in hyperlocal content, commerce, and technology.
Mobile Local Ad Spend to Hit $5.8B in 2016 (NetNewsCheck)
Mobile local ad revenue is expected to grow to $5.8 billion in 2016, up from $664 million in 2011, representing a compound annual growth rate of 54.2%, according to a new report out today from BIA/Kelsey. The firm also lowered its projection for 2012 local ad revenue to $134.6 billion from its initial forecast of $136.2 billion.
Beyond 5 Stars: Foursquare Looks For A Smarter Way To Rate Businesses (Fast Company)
Foursquare is experimenting with a new ratings system that gives users more information about a particular business than the often-arbitrary five-star system employed by services such as Yelp. That number is supposed to be a smarter indication of how much people like a particular place than the typical star ratings system that doesn’t really tell you a whole lot about why a particular business might be attractive to you.
Groupon’s One-Year Anniversary Feels More Like a Funeral. So What’s Next for Daily Deals? (Venture Beat)
Rocky Agrawal: If you invested in the company at its 52 week high, you’ve lost 88% of your money and if you got in on the first day close, you’re down 85%. Over the last year, the fundamental economics of the business have settled in after the hype died down. The “free money” deals for things like restaurants that people care about are fewer and further between.
Google Sources Think Maps App Might Struggle for Apple Approval (The Guardian)
Sources at Google familiar with its mapping plans say they are “not optimistic” that Apple will ever approve a dedicated Google Maps iOS app. Though the app is reportedly in development and should be ready to ship by the end of the year, the sources say their plans are only proceeding in “the unlikely event” that Apple will choose to approve the app.
“Google Now” Moving Well Beyond Search, Becoming Mobile Assistant (Search Engine Land)
Greg Sterling: Google Voice Search + Google Now together Siri hold profound implications for the future of “mobile search.” Siri and, increasingly, with Google Voice Search + Google Now are conditioning mobile users to interact with smartphones in very different ways than how people have historically searched on the PC. Mobile or virtual assistant is the new metaphor.
The Future of E-Commerce is Both Online and Offline (GigaOm)
Dave Gilboa, Warby Parker’s co-founder and co-CEO, said the future of its business and all retail will involve the blending of online and offline commerce. He said Warby Parker does more sales per square foot at its headquarters showroom than all retailers except for Apple.