Foursquare raises $20m as it approaches 2m users

Foursquare, the location-based social networking platform, is fast approaching the two million-user mark, and has raised $20m in fresh funding as it bids to expand and develop new products.

Foursquare: approaching two million-user status

The disclosure came from the company’s co-founder and chief executive, Dennis Crowley, in a company blog. 

The fresh round of funding comes partly from existing venture capital backers, Union Square Ventures and O’Reilly AlphaTech Ventures.

Thanks to http://www.brandrepublic.com

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