How the F*ck Could Foursquare Be Sold for $0?!?!?
Foursquare raised about $412 million, was once valued at $450 million, and sold to ad tech company Infillion for zero dollars to every equity holder. Axios broke the acquisition on September 18, 2026 with terms undisclosed. A month later, co-founder Dennis Crowley confirmed in his Teendrama Snippets newsletter that preferred and common shareholders both got nothing.
That is not the same as saying the company was worthless. Infillion bought a real business with roughly 150 employees and a data set it wanted. The $0 means whatever Infillion paid went to someone ahead of the shareholders, or the price simply didn't clear what the company owed. Here's how a household-name startup gets there.
Infillion, the ad tech company formerly known as TrueX, is buying the entirety of Foursquare, according to Axios. Founder Rob Emrich told Axios the deal adds roughly 20% to 25% to Infillion's revenue and headcount. Most of...
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