We recently wrote about our search for native mobile applications, which we defined as applications that simply were not possible previously (as opposed to making something that already exists online accessible via mobile). We have also long been interested in gameplay (Zynga and Heyzap) and in local information (outside.in). We were therefore thrilled to find an opportunity that combines all three and are pleased to announce our investment in Foursquare.
Foursquare allows you to "check in" at a venue (via the iphone app, the mobile site, or SMS). Your check in is broadcast to your friends, which is a great way to let them know where you are. For most people, a conscious act of sharing is a lot less worrisome than an ongoing broadcast of location.