Foursquare is still going. Under Dennis Crowley's leadership it has persevered on despite many challengers. One of the most formidable challenge was from Facebook. Back in August of 2010 Facebook launched Facebook Places, and became a direct competitor against Foursquare.
Crowley recalls how he reacted to Facebook entering location service market.
I've heard many perspectives on competitors. Competitors are a good indicator that there is a growth market, having competitors allows entrepreneurs to learn from the others and build on someone else's success, and so on.
Truth is that when you are in direct competition with one of the fastest growing internet company such as Facebook, all hopes of making it turn into gray pretty darn fast. It is very difficult to focus on your strategy and keep plugging away on its mission when news like Facebook Places announcement happens.
The fact that Crowley and his team have been able to stay through these challenging times says something about how focused they have been on staying on their mission. And how it helped them from getting distracted by their competitive landscape. Who would have thought Facebook Places would effectively shut its door after 12 months?
Whether there is one or many competitors, whether the competitor is a giant or not, stay on the mission and focus on delivering value to customers that you believe on.
Crowley recalls how he reacted to Facebook entering location service market.
I've heard many perspectives on competitors. Competitors are a good indicator that there is a growth market, having competitors allows entrepreneurs to learn from the others and build on someone else's success, and so on.
Truth is that when you are in direct competition with one of the fastest growing internet company such as Facebook, all hopes of making it turn into gray pretty darn fast. It is very difficult to focus on your strategy and keep plugging away on its mission when news like Facebook Places announcement happens.
The fact that Crowley and his team have been able to stay through these challenging times says something about how focused they have been on staying on their mission. And how it helped them from getting distracted by their competitive landscape. Who would have thought Facebook Places would effectively shut its door after 12 months?
Whether there is one or many competitors, whether the competitor is a giant or not, stay on the mission and focus on delivering value to customers that you believe on.
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