Fresh Capital

Foursquare Dodges a Potential Down Round, Grabs $41M In Loans and Convertible Debt

Foursquare's Dennis Crowley. (Photo: Sound Ctrl)

Everyone, it seems, has an opinion about Foursquare, the New York-based check-in and recommendations app that was the breakout darling of SXSW 2009.

Former Square COO Keith Rabois recently engaged in a very public dustup with Foursquare founder Dennis Crowley on Twitter, tweeting that only a “Hail Mary Bebo-style acquisition will bail you out.” In January, data and research company PrivCo predicted that the startup will fail by the end of the year, eventually surrendering to an acquisition price of no more than $50 million (though the analysis didn’t account for mobile traffic). In November of last year, the Wall Street Journal reported that investors were “cooling” on Foursquare. “The company claims more than 25 million registered users, but only about 8 million of them use the app at least once a month,” it wrote. Read More