Naveen Selvadurai

  

 

Maybe most of you guys have not heard about Naveen. He actually a big hitter and he made a lot of money through a joint venture of Foursquare, a location-based social networking website for mobile devices, such as smartphones.

Naveen Selvadurai was born in 1981 in Chennai, Tamil Nadu, India. He is a really successful US internet entrepreneur as he is a co-founder of foursquare. He was graduated from King's College London in the UK and Worcester Polytechnic Institute in the US with degree then he had worked at Socialight, Sony Music and Sun Microsystems before co-founding foursquare.

FOURSQUARE.

With foursquare, users  can"check in" at venues by selecting from a list of venues the application locates nearby using a mobile website, text messaging or a device-specific application.^.  the gps hardware in the mobile deviceor network location  that provided by the application will detect the location of each check-in. Points and ‘Badges ’ will be given as an awards of every check in.

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Foursquare is the second iteration of the same idea, that people can use mobile devices to interact with their environment. 20 million registered users was reported by the company during april 2012 and the company was expected to gain750 million check-ins before the end of June 2011 with an average of about 3 million check-ins per day. The user of foursquare are equally from both male and female and also 50 percent of users are not from the US.  The New York-based company plans to double its staff to 120 employees by year’s end. As for funding, the company raised $20 million from investors led by Andreessen Horowitz. At the time, the company was valued at $95 million.In February 2011, support for French, Italian, German, Spanish, and Japanese was added meanwhile support for Indonesian, Korean, Portuguese, Russian, and Thai was added in September 2011. Support for Turkish was added in June 2012.

                           

Naveen changed the way people see their cities when he made Foursquare once he devoted Sony Music software architect. This application is one of the best application in iPhone and Android that almost 275,000 users in before its first year. The users can highlight and navigate location in any city.

His joint venture has an estimated value of $600 million. He has recently been listed in the 'World's New Young Millionaires' released by AOL Small Business. This is a really great achievement for a young guy like him. He also has been on Fox Business Network, and CNN's special by Fareed Zakaria, on ‘Getting American Back to number 1." They were talking about how he became the person that he is today who I can call a successful young billionaire.

On March 4, 2012, Naveen announced on his blog that he will step down from his day-to-day operational role at the company later that month. He said he will continue to serve as a board member and adviser to the company.

The company has already found two primary revenue streams, big brands such as Starbucks and The New York Times sponsor content, while local businesses use the app to offer deals to lure in nearby users. Naveen's attention now is on the game's evolving mechanics, and how the company can to continue to improve on his initial goal. With these steps we can get better living in or cities.