Location-based mobile giant Foursquare has raised a $50 million funding round, according to the company’s blog. Investors included Andreessen-Horowitz, Spark Capital, and previous investors O’Reilly AlphaTech Ventures, and Union Square Ventures. The company plans to add engineers to its current staff of 70, boost its merchant offerings, and expand internationally. Although buzz put the valuation at $1 billion, TechCrunch reports it was actually a more modest (but still sky-high) $600 million.
Author: Arlene Weintraub
Arlene is an award-winning journalist specializing in life sciences and technology. She was previously a senior health writer based out of the New York City headquarters of BusinessWeek, where she wrote hundreds of articles that explored both the science and business of health. Her freelance pieces have been published in USA Today, US News & World Report, Technology Review, and other media outlets. Arlene has won awards from the New York Press Club, the Association of Health Care Journalists, the Foundation for Biomedical Research, and the American Society of Business Publication Editors. Her book about the anti-aging industry, Selling the Fountain of Youth, was published by Basic Books in September 2010.
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