Foursquare co-founder says equity holders saw no returns from the company's acquisition
News Source
β’Wed, 21 Oct 2026 14:03:11 +0000
π° What Happened
Foursquare co-founder Dennis Crowley says investors got nothing from the sale of the company. Ad firm Infillion bought Foursquare last month for an undisclosed price.
In a blog post, Crowley said he was heartbroken by the ending. He apologised to the roughly 1,600 people who worked at Foursquare over 17 years. The company had raised more than $411 million.
π The Backstory
Foursquare launched in 2009 as an app for checking in at places and sharing tips. It later became a data business selling location information, with revenue passing $100 million a year.
Crowley blames the outcome on a management change after a private equity firm invested in 2019. Foursquare shut its consumer app in 2024. Even so, many users still say it helped them explore their cities.
π― Why It Matters
It is a warning for founders and staff: a company can be useful and well known, yet still leave its backers with nothing.
Foursquare co-founder Dennis Crowley says investors got nothing from the sale of the company. Ad firm Infillion bought Foursquare last month for an undisclosed price.
In a blog post, Crowley said he was heartbroken by the ending. He apologised to the roughly 1,600 people who worked at Foursquare over 17 years. The company had raised more than $411 million.
Foursquare launched in 2009 as an app for checking in at places and sharing tips. It later became a data business selling location information, with revenue passing $100 million a year.
Crowley blames the outcome on a management change after a private equity firm invested in 2019. Foursquare shut its consumer app in 2024. Even so, many users still say it helped them explore their cities.
It is a warning for founders and staff: a company can be useful and well known, yet still leave its backers with nothing.