ReachLocal Kills Bizzy, Takes $3.3 Million Loss

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Location-based recommendation service Bizzy has announced that it will be shutting down in mid-November, marking a major turn of momentum in the local recommendation space. According to a statement released on the company’s blog, the application folded because it “ultimately did not attract the number of users it needed to sustain itself in the long run.”

Recommendation Engine Bizzy Couples Check-outs With Foursquare Check-ins

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ReachLocal subsidiary Bizzy has released an update to their recommendation application this morning that integrates Foursquare check-ins with their trademark rating feature, the “check-out.” Like SpotOn, Bizzy allows users to rate and share their opinions of local businesses with followers and friends as well as discover cafes, bars, and restaurants through personalized recommendations that draw on users social graphs and previous ratings…

Street Fight Daily: 04.26.11

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

Facebook is planning to introduce a new service called Deals, an effort to tap into the consumer frenzy over online discounts. With Deals, the social networking giant is entering a crowded market led by overnight sensations like Groupon and LivingSocial. (NYT/Bits)…

Mobile advertising inventory still goes largely unfilled because the relevance and targeting isn’t that good. PlaceIQ sifts through tons of data about locations to give marketers a mini-zipcode-like profile of each block. (TechCrunch)…

Even experts acknowledge a serious lack of hard data about the commercial power of location-based services. “There are none of the data and feedback mechanisms that businesses need in order to know that location-based services are a good idea.” (BBC News)…