VCs Battle to be Foursquare’s next investor
March 26, 2010
Foursquare, a location based social network that incorporates gaming elements, is looking for investors to raise another $10M round. Well, they aren’t exactly “looking for investors” or seeking out venture capital financing… Awesome deals with high valuations are being thrown at them left and right. Accel Partners, Andreessen Horowitz, Khosla Ventures and Redpoint Ventures are all competing to be the next lead investor causing valuation to skyrocket.
It has been confirmed that the final price will be between $60 million and $70 million pre-money, making Foursquare worth around $80 million on paper!
I only hope that these VCs offer the operational support, sales support and marketing that OpenView Venture Partners does. However, with current investors like Jack Dorsey and the phenomenal growth they’ve seen, it seems like they have everything under control.