GoKawiilFoursquare Co-Founder Dennis Crowley Says Infillion Sale Left Investors With Nothing
Dennis Crowley, co-founder and former CEO of Foursquare, wrote in a blog post that neither preferred nor common stockholders received any payout when advertising company Infillion acquired the location-data platform last month at an undisclosed price. Crowley said he was heartbroken by the outcome, noting Foursquare had raised over $411 million and once posted consecutive years above $100 million in revenue before its consumer app shut down in 2024.
GoKawiil's interpretation of the reporting above, not reported fact.
Crowley's account suggests that leadership changes following a 2019 private equity investment, including installing the deal's banker as CEO in 2021, may have contributed to the company's inability to sustain or build new value, according to his own characterization. The case illustrates how even well-funded, long-running startups can end in acquisitions that leave early investors and thousands of former employees without financial return. It also revives interest in the broader 'social maps' category, an idea since pursued by apps like Zenly, Jagat, Instagram, and Snapchat.
- Infillion acquired Foursquare for an undisclosed amount last month.
- Crowley says both preferred and common stockholders got no returns from the sale.
- Foursquare had raised over $411 million and shut down its consumer app in 2024.
Source: techcrunch.com — Ivan Mehta, 2026-10-21
Published there as: “Foursquare co-founder says equity holders saw no returns from the company’s acquisition”
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