Street Fight Daily: 08.19.11

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

Foursquare announced new features on Thursday that allow check-ins at events, like concerts or movies, instead of just the places where those events are happening. The company said the new features will simply formalize the existing behavior of its users.  (New York Times)

Groupon has not only faced questions about its controversial accounting practices, but is now also having to respond to questions from members of Congress about its privacy policies. (AllThingsD)

As long as Groupon sells enough new Groupons in one quarter to pay all the bills it racked up in the prior quarter, it will not need additional cash. But if the company’s growth stumbles, or if competitive pressure leads to Groupon’s gross profit margin getting squeezed, look out. (GigaOm)

Let’s make the bull’s case for Groupon. The one-tweet version of it goes like this: Groupon has finally found a way to get local businesses to spend on advertising, which is a ginormous market. (Business Insider)

AOL is looking like it could be an attractive takeover target for big media companies like Google, Yahoo, Microsoft and News Corp, writes Erik Sherman. Patch could be a huge jumpstart for any of them into the hyperlocal market and a potentially strong take on daily deals. (BNET)

HubSpot has acquired social business management platform Oneforty. Oneforty originally launched two years ago as an app store for Twitter, the startup undoubtedly filled a hole in the media platform. (TechCrunch)

In the not-too-distant future, iPhone users may be navigating around using an augmented reality interface that overlays all kinds of data relevant to their immediate location, as well as turn-by-turn traveling directions from one location to another. (ReadWriteWeb)

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