Foursquare to Start Charging Merchants

Foursquare has a big revenue problem: the social check-in site boasts more than 10 million users and a $600 million valuation, but so far, it hasn’t managed to actually make money. Now, Foursquare is planning to close that gap by charging its 500,000-plus registered merchants to use the site.

Foursquare co-founder Naveen Selvadurai didn’t say when the site would start charging merchants to register. “Our core focus is building our user base and building as many businesses on board,” he said in an interview.