It looks like Facebook may be making a push for Facebook Places. An on-going trial could indicate that this push could start with Instagram. The folks at Facebook are testing the social networks’ own service for adding location info, however, for now at least, Foresquare remains an option for sharing your location.
An Instagram spokesperson has this to say:
Foursquare is a great partner, and people will continue to be able to share their check-ins to Foursquare from Instagram. We are constantly testing experiences throughout the app to provide the best possible user experience as part of future planning.
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