Street Fight Daily: 11.23.11

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

Gilt Groupe Is Talking IPO (GigaOm)
Who’s next in the web IPO wave? Gilt Groupe, the company that runs online “flash” sales of designer clothing and other upscale products, says it could start making preparations next year for a public offering in 2013.

Fondu Is Foursquare For Foodies (TechCrunch)
The location-based reviews service is designed to be an antidote to Yelp. With Fondu, you see only reviews from your friends and popular reviews which have been given “cheers” by the community.

Location-Based Revenues in Europe Will Double by 2016 (GoMo News)
Mobile location-based service revenues in Europe are forecast to grow from 205 million Euros in 2010 to reach 435 million Euros in 2016, according to a new report published by Berg Insight. The company estimates that 20 per cent of all mobile subscribers in Europe already use some kind of location-enhanced application on a regular basis.

100,000 People Are Digging Kevin Rose’s New App, Oink (Business Insider)
Oink, the app that lets users recommend items within places, already has 100,000 downloads in three weeks. Founder Kevin Rose says 100,000 items have been recommended on Oink and new ratings pop up every four seconds.

Foursquare Checkins Reveal Holiday Travel Patterns (Mashable)
In honor of Thanksgiving travel, Foursquare has posted an infographic on the company’s blog showing checkins related to travel in the United States by plane, train, and automobile, covering a period from Halloween until just after Christmas in 2010.

Groupon Shares Sinking; IPO Gains Nearly Wiped Out (Mashable)
For the second day in a row Tuesday, Groupon shares plummeted — and flirted with falling below the company’s $20 IPO price. Groupon shares fell 10% Monday, and were trading for as low as $20.03 around 3pm ET.

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