Last week, Netease shut down its Foursquare clone Bafang, marking another player leaving the field after a string of similar retreats. Just two years ago, Chinese digital populace were still in a check-in mania to share their locations and claim mayor of places. And now our “where am I” passion along with some check-in services is long gone.
A Fever Never Gets Right
Wu Jun, CEO of Linxun, one LBS survivors of the year, said that “It’s not that LBS model is wrong, it’s just because too many competitors are copying each other and investments rushed in too quickly.”
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