Saturday, January 12, 2013

Remember, Dennis Crowley Could Have Sold Foursquare For $120 Million

PrivCo, a research company, claims Foursquare will “fail by the end of 2013” and sell for “less than $50 million.”

While that prediction seems like a stretch, Foursquare is clearly in a heap of trouble.

What’s worse, CEO Dennis Crowley had multiple opportunities to cash-in on the app back when things looked brighter.

Yahoo reportedly offered Foursquare $100-120 million during the spring of 2010. Then, the company had only raised $1.35 million but it was in final discussions on a larger round of financing. Crowley owned at least one-third of the company, which means he could have had $30 million in his pocket.

Keep reading…

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