Foursquare's Dennis Crowley knows exactly where he's going – but it took a while

When Foursquare launched its app in 2009, founder Dennis Crowley wasn't quite sure where he was going with it.

The idea was that people would use the app to "check in" to particular locations, which seemed like a fun and interesting game. But he had no idea how it would evolve, or how it would make money.

Now he knows.

Foursquare's business model is selling its unique location-based data to companies, such as mobile advertisers and app makers, that are eager to use it.

"We can make this...

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