Foursquare Founders’ Payout From Latest Round: $4.6 Million
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About that $20 million Foursquare raised last month ... $4.6 million of the total went to co-founders Dennis Crowley and Naveen Selvadurai, according to an SEC filing out today (via Business Insider). A spokeswoman tells us the two men sold “a small portion of their personal equity to allow our investors to achieve their ownership objectives.”
As for the remainder of the $20 million, it’s presumably going to Foursquare’s stated “main priority” of building out a “world-class engineering organization.”
Posted In: Apps, Money, M&A & Venture Capital, Venture Capital, Social Media, foursquare
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