Foursquare, the pointless check-in service with barely any revenue, is now worth more than six times what it was a year ago. Or so say the venture capitalists who just gave the hugely unprofitable company an infusion of cash.
VC firm Andreessen-Horowitz led a $50 million round that has valued Foursquare at $600 million. Barely a year ago, Foursquare was deemed worth $95 million. "The opportunity to build something meaningful in the location space is HUGE," Foursquare co-founders Dennis Crowley (pictured) and Naveen Selvadurai said of the new money. Now they just have to build something meaningful!
[Photo via Getty]