Thursday, March 1, 2012
Foursquare Is Doing Big Things, So Existing Investor Spark Capital Buys $50M Of Employee Stock
Foursquare founder Dennis Crowley spent this afternoon in Barcelona, explaining his location company's potential to Mobile World Conference attendees. Someone else didn't need to hear the presentation, though. Existing investor Spark Capital is buying $50 million worth of its stock, according to sources, in a deal to provide at least some employees with liquidity. The result is a valuation north of of the already-impressive $600 million from its last round, I've heard.�This is even though the company continues to focus on product development instead of trying to maximize revenue.