Friday, January 15, 2016

Foursquare Finds $45M More

Foursquare, the developer of mobile apps for social networking, has raised $45M more in a Series E funding, according to the company. The firm--which has a big office in San Francisco, but is headquartered in New York--said the funding was led by Union Square Venture, and also included Morgan Stanley Alternative Investment Partners, DFJ Growth, Andreessen Horowitz, and Spark Capital. As part of the funding, Foursquare co-founder Dennis Crowley has shifted to Executive Chirman, with Jeff Glueck, the company's COO, taking over as CEO. The funding reportedly cuts the company's valuation to $250M, significantly less than an earlier valuation of $650M for the startup. More information »