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FourSquare Clocks One Million Daily Check-Ins

FourSquare, the location-based social networking platform, has announced that it has achieved getting one million check-ins in a single day.

According to an article on Tech Radar, FourSquare announced that the platform was receiving one million check-ins from users.

The announcement comes after the company announced that it had received $20 million worth of investment in its second round of funding.

FourSquare is a location-based platform which allows users to check-in to partner locations such as hotels and eating joints and collect rewards.

The investment firms backing the company believe that the platform has an exceptionally high growth rate and is growing faster than micro-blogging platform Twitter did at the same stage.

Writing on his blog, Ben Horowitz of investment firm Andreessen Horowitz, wrote: “We are very excited about Foursquare's ability to make money in a way where all parties win: users, merchants, venue owners, brand advertisers, and more. In fact, users have been so excited about the product that they have actually been signing up local businesses to run promotions for Foursquare’s mayors and active users.”