Foursquare to decide to sell or raise venture capital in 2 weeks

According to Bloomberg, Foursquare Co-founder and CEO, Denis Crowley has said that he will be deciding whether to sell foursquare or raise venture capital in the next 2 weeks. “we’ll have it resolved in a couple of weeks. I want to end the distractions and get back to work.”

According to TechCrunch - Yahoo, Microsoft and Facebook are all trying to acquire Foursquare. Denis Crowley’s similar startup ‘Dodgeball’ was sold to Google which ended up in dead pool and he left Google frustrated. Google probably knows that they have no second chance with Crowley, that’s probably why Google is not joining the bandwagon to acquire Foursquare.

Foursquare has raised $1.35 billion in the first round and is planning to raise somewhere around $10 million at $60-$70 million valuation. If they decide to sell it could probably be in the range of $100-$150 million. Yesterday Foursquare reached 1 million users just one year after launch. Foursquare has about 170,000 users at the end of 2009, 500,000 users just before SXSW 6 weeks ago and now 1 million.