Foursquare Revamped – New CEO, new focus and new funding
Bengaluru, India | Red Newswire | Jan 15, 2016 Last Updated at 5:00 PM IST.
This Thursday, Foursquare announced that the co-founder and CEO Dennis Crowley is stepping down from his role, but will continue as executive chairman.
Jeff Glueck, the former COO is the new CEO and the role of president has been assigned to Steven Rosenblatt.
The company has also secured a funding of $45 million. Till date the company has raised $160 million. The company started in 2009 as a location-based social network and was one of the hottest startups then!
But in past few years, market changed and so did Foursquare. Now it is more like Yelp. Some of the best talent of the company also left it.
Now, Foursquare is evolving as “a fast-growing location intelligence company” as described by the new CEO. It aims to help users’ experiences richer and more informed.
Now it’s more B2B rather than focused on consumers. This doesn’t mean that Foursquare will discontinue its old consumer services, but it is shifting its focus.