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Foursquare Founders walk away with $4.6 million from VC funding

on July 15, 2010 | Foursquare | Comments (0)

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.

foursquare-crowley-selvadurai

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.


David Cowling :

Editor and Founder of SocialMediaNews.com.au. I also run a Social Media Agency where I do consulting work and another blog dedicated to Instagram news. Connect with me: Twitter | LinkedIn | Google + or contact me here. Alternatively, you can send me an email at david@socialmedianews.com.au











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