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Dennis Crowley Sort Of Confirms They Turned Down A $140M Acquisition Offer

December 8th, 2010 12:18 admin Leave a comment Go to comments

Awkward expression on Foursquare CEO Dennis Crowley‘s face when Le Web 10 host Loic Le Meur asked him exactly how sizeable the acquisition offer that they turned down was.

Le Meur guessed around $140 million (whether that offer came from Facebook, Yahoo or another company wasn’t really mentioned, but they are the likely bidders and the topic of the on-stage conversation was Facebook when the question dropped).

Crowley didn’t deny it, and then went on to acknowledge that number is “ballpark”.

Which means they turned down a $140 million-ish offer when they’d only raised about $1.35 million in seed funding – they went on to raise $20 million more after the buyout talks died down. Visionary or foolish?

For what it’s worth: Foursquare just passed 5 million users, and is seeing 2 million check-ins and 25,000 new users on a daily basis.

Source: Dennis Crowley Sort Of Confirms They Turned Down A $140M Acquisition Offer

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