The location-based social networking juggernaut, Foursquare, has received $15 million funding as a result of a partnership with Microsoft. This strategic alliance will help Foursquare turn itself into a sustainable business and which, in return, will contribute to Windows mobile apps and Bing search engine.
The $15 million funding is a part of Foursquare's previous raising of $35 million in December. There is also a licensing deal for location data, but its value hasn't been made available to the public. That license will apparently allow the software giant to dig into the data.
While both the companies are preferring to keep the agreement information to themselves, it is certain that the deal isn't just to get Foursquare listed on Bing search results. "So, in the near future, when you use Microsoft devices powered by the Windows and Windows Phone operating systems and products like Bing, places will be enhanced by Foursquare – to provide contextually-aware experiences and the best recommendations of any service in the world. As part of this partnership, Microsoft has also invested in Foursquare", Foursquare announces.
We aren't really surprised to see this deal coming together, as both the companies hinted at a partnership last year. So get ready, you will be seeing more of Foursquare on your Windows devices.