|
Foursquare, which makes apps that helps users find restaurants
and stores and "check" into them, also raised $45 million in
funding, Glueck said in a blog post on Medium.
This series E funding round was led by Union Square Ventures
with participation from Morgan Stanley <MS.N>, as well as
previous investors including DFJ Growth, Andreessen Horowitz and
Spark Capital.
The company expects this latest funding will aid its plans to
fill 30 new positions in sales, engineering and other functions,
according to Glueck's blog post.
Foursquare planned a funding round in December, between $20
million and $40 million with one new investor, valuing the
company at $250 million.
Crowley, who is now stepping down as the chief executive of the
company, will become executive chairman.
The company also named Steven Rosenblatt, chief revenue officer,
as the president and promoted Kinjil Mathur to chief marketing
officer and Jonathan Crowley to vice president, product.
Foursquare has been the subject of takeover speculation, with
Yahoo Inc <YHOO.O> being reported more than once as a potential
buyer.
The company raised $35 million in a fundraising round in 2013,
valuing the company at $650 million.
(Reporting by Rishika Sadam in Bengaluru; Editing by Cynthia
Osterman)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
