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Foursquare raises $50 million funding

Location based network Foursquare has raised $50 million in
a round of financing lead by venture capital firm Andreessen Horowitz. With this
latest round of funding, the New York-based company is valued at about $600
million. Besides Andreessen Horowitz, O’Reilly AlphaTech Ventures, Union Square
Ventures and Spark Capital are also involved in the round.

Location based network Foursquare has raised $50 million in
a round of financing lead by venture capital firm Andreessen Horowitz. With this
latest round of funding, the New York-based company is valued at about $600
million. Besides Andreessen Horowitz, O’Reilly AlphaTech Ventures, Union Square
Ventures and Spark Capital are also involved in the round.

“We’re excited to announce that we’ve
closed a round of funding that will enable us to hire more engineers, evolve
our merchant offerings and continue our international expansion,” Dennis
Crowley , Chief Executive and Co-founder, Foursquare has said.

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