Foursquare Founders walk away with $4.6 million from VC funding
In the second round of Venture Capitalist funding, Foursquare Co-Founders Dennis Crowley and Naveen Selvadurai have walked away with $4.6 million USD jointly from the $20 million given.
Foursquare has said the founders sold shares so that investors could buy more. This allowed the Venture Capitalist to reach their desired equity level in the company.
The 3 official executives of Foursquare are Crowley, Selvadurai, and board director Albert Wenger of Union Square VC.
Foursqure Co-Founders Naveen Selvadurai & Dennis Crowley
In the US the IPO markets has not been as attractive as it once was. As a result companies are staying private longer and option for funding instead of selling the shares in the open market.
