Report Predicts Foursquare Will Fail This Year
PrivCo, a company that supplies financial research into private companies, is predicting that Foursquare will fail in 2013, likely by being sold for a price lower than total funding the company has raised.
PrivCo, a company that supplies financial research into private companies, is predicting that Foursquare will fail in 2013, likely by being sold for a price lower than total $71.3 million in funding the company has raised.
The social network boasts 20 million members and 5 million daily check-ins, but, according to a PrivCo report, is failing to meet investors’ or internal projections “quarter after quarter.”
The report suggests that Foursquare has been grossly overvalued by venture capitalists.
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