The long dalliance between investors and Foursquare appears to almost be consummated. According to a Tweet by Foursquare board member Bryce Roberts of O’Reilly AlphaTech Ventures, about an hour ago he was “approving the wire transfer heard ’round the world.”
That would be the wire transfer from the new group of investors led by Andreessen Horowiitz, as we reported a few weeks ago. Despite being one of the hottest startups around, or perhaps because of it, Foursquare took along time to close this round. Mostly that was because the company got distracted by acquisition talks with Yahoo and Facebook. When I asked Foursquare CEo Dennis Crowley about this drawn out process ten days ago, he responded, “You don’t have to rush through it.”
There is still no official announcement yet from Foursquare on the funding, the exact amount raised or other investors involved, but I am pretty sure more details will be forthcoming shortly. Sometimes VCs get so excited they like to break news themselves, I guess.