Entrepreneurs come together to introduce Stori
A small group of entrepreneurs from Colorado Springs, Colorado, have been working on developing a new smart phone application that offers location-based services. The application is billed by the group as being the “Wikipedia for locations.” The application, called Stori, is designed to allow users to post photos, video, and other content to specific locations in order to document their experiences. These experiences can then be accessed by anyone that uses the mobile application.
Stori aims to begin public tests this year
The entrepreneurs — Dan MacFadyen, Justin Lukasavige, Taylor Holmes, and Justin Bergen — founded Stori in order to develop the application, which shares the same name as its developer. The location-based, social media application is expected to begin public testing in late February. Stori currently aims to attract some 600,000 users by the end of 2013. Stori also aims to raise more than $500,000 from angel investors in order to aid in the development process and pay salaries for the development and marketing staff. The project is currently being funded in its entirety by the small group of entrepreneurs that founded it.
Location-based applications gaining ground with consumers
Location-based applications have become widely popular with consumers. Many people have shown interest in using social media platforms to check-in to locations and share their experiences with their friends. Stori may be another way to do this, as it provides people to visit locations and witness the experiences people have had there. In this regard, the video content supported by Stori is likely to be the most successful.
Stori to connect with Google Places and Facebook
Once launched, the Stori application will be connected to the Google Places service. This will enable the application to tap into a vast reserve of location-based information. The application will be able to import and export content to social networking platforms. Users will be able to delay their posts for a certain number of hours for security purposes.
Foursquare aims to expand some of its services
Location-based services are becoming more popular for businesses and consumers. These services offer benefits for both parties: Businesses can use geographic information to formulate better marketing strategies and consumers can be rewarded for their loyalty to a specific company by “checking-in” to a location. Checking-in to locations is a trend that has taken the social media space by storm. Foursquare is one of the pioneers of this service in the social sector, and the platform is now taking steps to streamline its location-based services.
Platform aims to streamline its practice
Foursquare has announced changes to its terms and conditions documents, which will take effect on January 28, 2013. The social media platform is looking to better streamline its services for businesses and consumers. For years, Foursquare has been one of the most prominent names in social media marketing and location-based services, but other social networks have begun to encroach upon the platform’s virtual turf. In an effort to stay relevant with consumers and businesses, Foursquare is taking steps to provide better service.
New policies could be of benefit to businesses
One of the changes being made to the platform’s privacy policy involves the names of its users. Foursquare will begin showing the full name of each user across its entire platform, allowing this information to be seen by anyone. Users can, of course, opt out of having their full name displayed without being faced with any penalties in terms of service. Another change involves the check-in history businesses can see. Traditionally, businesses could only view check-ins over the most recent three-hour period. After the changes go live, however, businesses will be able to keep better track of their traffic.
Foursquare manages to stay ahead of the competition, for now
The changes may help businesses provide better rewards for consumers that check-in frequently, while also allowing these businesses to access information that can be used for marketing campaigns. In 2012, Foursquare reported more than 15 million new users and celebrated the 3 billionth check-in. While several other social networks are pushing new location-based services, Foursquare continues to hold a solid lead over its competitors.
