Since 2013, the company has entered into multiple debt-based financing rounds.is risky, even for companies in rapid growth phases. Foursquare filed with the SEC to raise $50 million in October 2018, but the company secured only half this amount in its latest Series F funding lead by Simon Ventures, Union Square Ventures, and Naver.
Crowley’s resistance to Yahoo’s offer may have been in part a desire to not have yet another company shut down after purchase. Dodgeball, which Crowley co-founded in 2005 while he was still a student at New York University, closed within 18 months of being bought by Google. By turning down Yahoo’s offer, Foursquare dodged a bullet, Kaminski says. Take what happened to Tumblr. In 2013 Yahoo acquired the microblogging site for $1.1 billion and later wrote down most of the deal.
Consolidating into a larger company like Google, Amazon, or Facebook or even going public may be the trajectory for many tech startups, but Foursquare would like to position itself to be an independent oversight for big tech, rather than join them. By being independent Foursquare avoided Gowalla’s fate.
The last time I checked they were in a series Z funding round, how long until they reach a profitability is what I’m curious about.
I look forward to getting my hands on a billi one day.
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