Four VC Firms Battle For Foursquare, Valuation Goes Stratospheric s official now: LBS is next big thing
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What do Accel Partners
, Andreessen Horowitz
, Khosla Ventures
and Redpoint Ventures
have in common? Besides being tier one venture capitalists, at least one thing: They are all fighting furiously to be the lead investor in Foursquare’s
next venture round.
All that competition is driving the valuation massively upwards, too. A couple of weeks ago we’d heard that the deal would likely be closed at around a $50 million valuation. Today we’ve confirmed that the final price will likely be $60 million – $70 million. They’re raising around $10 million, which means when it’s all over Foursquare will be worth up to $80 million on paper.
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See Also:
- VCs Rush Forward With Cash, Declaring "Foursquare Crushed Gowalla"
- VCs Go Crazy For Foursquare: "Everybody And Their Mother Is Humping Their Leg"
- Foursquare Notches 100,000 New Users In 10 Days
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