Foursquare announced  that the location-based service is teaming up with Groupon to regular site-specific deals. Both Groupon’s daily deals and the company’s Groupon Now deals will appear. Foursquare’s ten million members worldwide will see these deals when they check in at bars, restaurants, and other locales.

Earlier this month, Foursquare said that it would be partnering with other deal sites like Gilt City, Zozi, and LivingSocial. The Chicago-based Groupon, however, is the biggest catch for Foursquare, but both companies stand to benefit.

Groupon still hasn’t posted a profit, and the Securities and Exchange Commission has begun to ask the company questions about misleading accounting metrics in its IPO filing. The metric left out expenses like marketing.

Groupon Now, the deal site’s mobile iteration, may be one way to bring the company into the black, some of the technorati are saying. ^[1]

Read more at TechCrunch ^[2].