Foursquare Raises $50M

Foursquare, a New York-based location-based mobile platform designed to allow users to share their location with friends while collecting points and virtual badges, has raised $50m in funding.

The round was led by Andreessen-Horowitz, with participation from O’Reilly AlphaTech Ventures, Union Square Ventures, and Spark Capital.

The company intends to use the capital to hire more engineers in New York and San Francisco (, advance its merchant offerings, expand internationally.
Foursquare currently employs around 70 people.

Co-founded in 2007 by Dennis Crowley and Naveen Selvadurai, the platform allows:
– users to bookmark information and receive suggestions about venues that they want to visit. By “checking in” via a smartphone app or SMS, they can earn points and unlock badges for discovering new things;
– merchants and brands to engage and retain customers.
Today, foursquare is used by nearly 10 million worldwide and over 400,000 businesses.



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