Loopt set its sights on the “Holy Grail” of location based ads

LOCATION-based social network Loopt announced another content agreement yesterday, with e-mail newsletter Tasting Table.

This deal will allow Loopt users to leave reviews and tips for other users, when they use bars and restaurants. Location-based services providers are increasingly keen on content deals of this nature - startups like Gowalla and MyTown have hundreds of thousands of users “playing” their games and sharing locations with friends, yet apart from the game-playing experience itself, they offer little in the way of original material that will help users truly take advantage of their location.

Consequently, the like of Foursquare and Loopt have been partnering with media companies like Zagat, Bravo, HBO and The New York Times.

Content deals like these have mutual benefits in that they allow location based services players to have richer content offerings, whilst traditional media companies get access to a new local advertising channel and savvy early adopters.

Loopt CEO Sam Altman commented: “The Holy Grail of performance advertising is actually delivering someone to a store,” he said. “We have a new product launching pretty soon that will help advertisers pay for the number of people we can actually deliver.”

Loopt currently has 3 million registered users and 1 million monthly actives.

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