:media 'transportation

tively small number compared

to Facebook and Twitter but A Canadian.firm won the
the website has become part of right to build a $3oo-million
a geo-positioning social-media monorailinNajaf
phenomenon. and is growing
by about l5.OOO users a day. On
July 2. the website hit a mile-
stone-over one million people
checked in that day. Then, the
next day, it reached that num-
ber again.
The company recently an-
nounced that it had locked
down a new round of $2O mil-
lion in venture lunding, led by
Silicon Valley's Andreessen
Horowitz. And while its busi-
ness model remains a work-in-
progress, marketing deals with
Location mayors compare notes locat ion-based branded compa-
nies such as Starbucks are a clear
priority for driving revenue.
REAPING SOGIAL. Those who use Foursquare
often reler to it as a game. because
) Jude Igwemezie could be the
most optimistic man in Canadian
business. His Ontario-based com-
pany, TransGlobim International,
secured the contract to build a
monorail in the Iraqi city of Najaf.
TransGlobim was selected by
the government inJanuary, and
received an investment licence
in June, which allows it to do
business in Iraq. Middle Eastern
news outlets have since touted
the monorail project, but the
enthusiasm is premature.
Igwemezie is still working to
arrange an astounding $300 mil-
lion in financing. The Iraqi gov-
ernment will not have to spend
a dime. Instead, TransGlobim

MEIIIA REWARIIS the process ofchecking in earns

users online badges and hon-
ours, depending on frequency.
will finance, construct and oper-
ate the monorail (if completed)
for a profit. Igwemezie, a rail
The value of networlcing tool Foursquare According ro Barretr. thal's the industry veteran, insists fund-
true business opportunity. ing is nearly complete, and that
is in building customer loyalty "The real opportuniry isn't the project will break ground
for mayors-that's limiting and this year. "There's quite a lot of
) Glen Sloan is the mayor of Phil Barrett, the vice-president short-sighted," he says. "I(now- financing available for this stuff,
Starbucks, though he admits he of digital and mobile ar Toron ing that the top 59o of cusrom- especially from the Muslim com-
didn't do all that much to earn to's marketing communications ers generate the majority of the munity," he says.
the honour. agency Bstreet. revenue, ir's a whole new loya)ty The plan is to construct 37 ldlo-
Every morning Sloan, a motor- "In the past, businesses would platlorm. And it's a lot cheaper metres of track to whisk visitors
cycle mechanic, orders a hot send coupons to homes, and than Aeroplan." between three of the city's his-
chocolate at the Starbucks on maybe you'd go or maybe you He adds that Foursquare dis- toric mosques. Najaf is one ofthe
the corner of College Street wouldn't," says Bar- counts are not fool- few areas in Traq that receives
and Euclid Avenue in Toron- rett. "with Four- FQURSQUARE proof: "The disad- tourists. More than three million
to's downtown. As he's stand- square, you're moti- vantage is you now
ing in line lor his travel mug to
"],"J
i" i" u*r, ,'-" NEW I
lS A WHoLE
have employees be-
people visit each year, according
to USAID's Iraq division, mostly
be filled, he uses his iPhone to and again to main- L0YALTY coming mayors and from Iran, but they tend to be
maintain his "mayorship" via tain mayorship and PLATFQRM. preventing the best poor pilgrims who walk to the
the website Foursquare. p:il,.r; Ir drives customers from en- city. Nevertheless, Igr,rremezie is
q
Foursquare is a social network
9., AND lT'S A LOT
joying rewards." In excited. "Where there is destruc-
that members use to "check in" ili,il'flffi:lr"" cHEAPER THAN Canada, it's still ' tion, there is a chance to rebuild,"
- at businesses and other loca- According to a AEROPLAN early days in terms , he says. -J0E CASTALDO
tions they often frequent. The statement from of businesses utiliz-
person rvho checl<s in the most Starbucks, Foursquare repre- ing Foursquare. Especially com-
is thereby crorvned the "mayor" sents a natural evolution of its pared to the U.S., where Bar-
= of that location. social-media strategy. "What's rett says he's seen businesses
Recently, Starbucks began great about Foursquare is that offering everything from free
! using Foursquare to offer the it links the real-time, in-store drinks to happy-hour discounrs
mayors of each of their stores experience to the online com- to those who check in.
I
a $1 discount on their drink munity," it said. "It really is something that
of choice. Sloan agrees. "It brings the could take off," he says. "What
'l think platforms like Four- Internet into the real world," he [these businesses] want is loot
square offer a real opportunity said. "You can go and have a tan- traffc, and [Foursquare] will
for loyalty programmes," says gible experience instead ofvicar- drive it in. -LyNDstE BouRGoN Build it and lhey'll come

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