A roundup of today’s big stories in hyperlocal content, commerce, and technology.
Foursquare Hires Former iAd Exec as Revenue Chief (AdAge)
Steven Rosenblatt was officially brought on last week as Foursquare’s chief revenue officer but had been advising the company as a consultant since February. He left his position as director of advertising sales and strategy at Apple’s mobile-ad platform iAd in January. Rosenblatt says Foursquare is eying mid-summer for the launch of its paid-media platform, which will include a product that allows merchants to promote their deals.
Groupon Stock Spike Probed (Wall Street Journal)
A Wall Street regulator is examining trading in Groupon Inc. GRPN -7.17% that sent its stock price soaring hours before a favorable earnings announcement Monday, according to a person familiar with the matter. The review by the Financial Industry Regulatory Authority, or Finra, is at an early stage, the person said.
Does Facebook Have a ‘Yelp Problem’? (ScreenWerk)
Yelp is en effective — even critical — promotional tool for local businesses. Yet the company must overcome the perception that a free account is sufficient and that paid advertising has distinct benefits. For several years Yelp has been making that tough case to SMBs, with some success. Now it appears that Facebook has a similar problem.
How Facebook’s Mobile Strategy Might Create Future Revenue Streams (ReadWriteWeb)
Dan Rowinski: While it may seem like Facebook has completely dropped the ball on mobile monetization, there is plenty of time and avenues for the social behemoth to make money from its mobile eyeballs. To understand where Facebook is with its mobile products, one must understand the problems that big companies deal with in rolling out new revenue-generating products.
How Can Small Businesses Use Location-Based Network (Washington Post)
Three young entrepreneurs talk about how location-based networks can serve small business owners’ social media needs. Answers from Jun Loayza, co-founder and CMO of RewardMe; Shama Kabani, CEO of The Marketing Zen Group; and Lauren Fairbanks, partner at Stunt & Gimmick’s.