If you're not aware of Foursquare, it's a mobile application that helps you find new ways to explore your city. foursquare helps you meet up with your friends and lets you earn points and unlock badges for discovering new places, doing new things and meeting new people. The company was founded by Dennis Crowley and Naveen Selvadurai and is based in New York City.
It's being reported this morning that Pepsi's committment to social media is going into overdrive. They have partnered with VC firm Highland Capital Partners and Mashable to search out the best and brightest new ideas in social media. It's being called an "innovation-incubator program," PepsiCo10 will isolate as many as 10 promising entrepreneurial groups, assign them an industry mentor, and attach them to pilot programs with various PepsiCo brands.
No doubt we'll see more of these major players taking more of a create your own, command your own approach to social media real estate.