Microsoft reportedly set to invest in Foursquare
Microsoft reportedly in investment talks with Foursquare while trying to woo the social media company away from another perspective suitor, American Express.
The app that lets you broadcast your location to an audience of friends and strangers is reportedly in investment talks with Microsoft and American Express, according to sources that spoke to Bloomberg.
Nobody is saying anything on the record, but should a Microsoft investment go through the company will likely integrate Foursquare with its struggling map service Bing Maps.
Microsoft’s talks with Foursquare about a strategic investment are said to be at an advanced stage.
— Dina Bass (@dinabass) August 29, 2013
Foursquare has been valued at $600 million, and recently raised $41 million in debt from venture capital firms for expansion. Foursquare says its business model is based upon social and geolocation advertising.
Foursquare also says its working on a geo-aware restaurant recommendation service.
Now take a listen to why broadcasting your location to an audience of strangers is a bad idea.
Via: The Verge