Foursquare is close to finalizing a funding round that will value the company at about $250 million — less than half of what investors thought the company was worth two years ago.Related:
Sources say the startup, which makes apps that let you find local restaurants and stores and “check in” to them, has also talked to potential buyers. So it could still conceivably sell instead of finishing up the funding, which should raise at least $20 million and as much as $40 million.
Sources say at least one new investor will participate in this round; previous investors include DFJ Growth, Microsoft, Silver Lake Partners, Spark Capital, Union Square Ventures and Andreessen Horowitz.
In 2013, Foursquare raised $35 million in a round that valued the company at about $650 million.
A Foursquare rep declined to comment....MORE
Yikes! Square's IPO As A Down Round
Across the valley VC's are wondering, "Gawd, what if nobody wants this shit?"*...Now we can add NYC and coming up, maybe Boston.