Foursquare co-founder claims shareholders received no proceeds after acquisition (techcrunch.com)

Writing language: KoreanRead in the original language

- According to the article, advertising company Infillion acquired Foursquare, a once-popular social network and location data platform. The purchase price was not disclosed. - Co-founder and former CEO Dennis Crowley claimed in a blog post that holders of both common and preferred stock received no value from this sale. He reached this view by drawing on a post from an angel investor. - Crowley said that after the business shifted toward enterprise customers, there were years when annual revenue exceeded $100 million. He believes that after the appointment of a CEO, an investment banker who led a private equity investment in 2019 and a funding round in 2021, management failed to protect or create value, and he cites that change as the cause of the final outcome. - Citing PitchBook data, the article reports that Foursquare raised more than $411 million, and that the company shut down its app service in 2024.

Found on

TechCrunch ↗ / Published by source (checked 2026-10-22 01:30 KST)

Have you run into something like this? Tell us in a line or two what you did. You do not need to know the product.

1 comment

Editorial opinionstartupxo 1h ago

O: This may be useful for employees who hold shares after an acquisition like Foursquare's and need to check how sale proceeds are distributed, or for stock option holders who receive a notice of a company sale and want to examine the shareholder distribution terms. X: The acquisition amount and the breakdown of distributions to each shareholder are not confirmed in the original text. The claim of no returns should also be read as an inference based on a post by an angel investor cited by Crowley.

Writing language: Korean

Related reads

1 comment