Street Fight Daily: LBS in Demand, Groupon Shakes Up Board

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A roundup of today’s big stories in hyperlocal content, commerce, and technology.

Report: Location-Based Mobile Services Have Huge Untapped Potential Worldwide (TheNextWeb)
There’s a massive demand for location-based mobile services worldwide, according to a new survey. The TNS report finds that almost two-thirds of mobile users that don’t have location-based features would like to start using the feature, showing that there is huge untapped potential for check-ins, mobile maps and other services.

Groupon Is Said to Seek New Directors After Restatement (Bloomberg)
Groupon is seeking to hire at least two new directors to its board as it attempts to regain investor confidence following a restatement of revenue last month, two people familiar with the matter said. The largest provider of online daily deals aims to recruit a new director who could eventually lead its audit committee.

Facebook Mobile Ad Revs To Reach $490 Mil In 2017 (MediaPost)
By 2017, Pivot predicts that Facebook’s mobile ad revenues could represent 22% of the non-search mobile ad market. While Facebook remains cagey about the formats it plans for mobile advertising, Pivot analyst Brian Wieser says that in sheer tonnage alone, the company could begin generating income.

Journatic to Improve ‘Digital Penetration’ of TribLocal Content (Chicago Reader)
If TribLocal was an exercise in cutting-edge hyperlocal journalism, Journatic has honed the edge to an even finer point. Mining its vast data resources, Journatic content will include real estate transactions, property tax logs, new business applications, crime blotter feeds, prep scores, test scores from schools, even things like marathon results.

Click-Through Rates May Matter Even Less Than We Thought (Ad Age)
We already know that click-through rates on online display ads are abysmal. Now a study from the startup Pretarget and ComScore revealed that even when a user clicks on an ad, the correlation between that click and a conversion is virtually nonexistent. “My key takeaway,” said Pretarget founder and CEO Keith Pieper, “is that optimizing to viewable impressions or hover time is a better proxy for a brand advertiser than a click-through rate.”

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