Yes, and the article reads like an advertisement. I generally like reading AVC posts because there's often some thought-provoking questions or other insight with broader application. Not so on this one. I guess the take-away point with this one is going to be long-term, watching to see if they're successful in using empty buzz to generate an exit.
Last year's round of financing was primarily a loan from Silver Lake. Loans (venture loans), on a company/asset that hasn't got genuine revenues is really expensive, both the interests, and size – I'm assuming it's an interest accruing loan (no way can FourSquare pay cash interests). This scenario should be eating everyone's returns.
The post definitely comes across as a 'Hey, look at us!', the new logo, new apps, is also a sign that FourSquare wants to transmit the message of 'We are still alive and doing 'cool' stuff', but my understanding is that they are trying not to appear stale, which to me they are. I don't think the top line operational metrics are doing that well. I think all parties are trying to save the day with some type of 0.8x-1x cash invested sale price. I even think that is ambitious. Do startups that are doing well market themselves as 'The New Twitter', 'The New Facebook', 'The New Google', no – something isn't working. Time will tell.
