Nicholas Carlson | Jun. 24, 2011
Foursquare just raised $50 Million at a post money valuation of $600 Million. Andreessen Horowitz led the round.
Spark Capital joined the round.
No insiders sold stock, unlike last time.
The money will go toward hiring and building out the merchant platform.
O’Reilly AlphaTech Ventures and Union Square Ventures also participated.
It’s a mild upset that Union Square Ventures didn’t lead the round with its new later stage fund.
Here’s CEO Dennis Crowley’s blog post on the news:
Foursquare is not just about the check-in, or recommendations, or points, or badges. It’s about making the world easier to use. It’s about discovering new places, connecting with friends, and forging new relationships with the places you visit. It’s finding new ways to layer technology on the real world. All of our employees believe strongly in this vision, and we’re incredibly lucky to have investors and a board that feel the same way.