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This article was published on January 24, 2011

Foursquare calls out Bloomberg, denies $250m valuation and fundraising plans

Foursquare calls out Bloomberg, denies $250m valuation and fundraising plans
Martin Bryant
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Martin Bryant

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Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-qualit Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-quality, compelling content for them. He previously served in several roles at TNW, including Editor-in-Chief. He left the company in April 2016 for pastures new.

A Bloomberg report earlier today claimed that Foursquare was considering a new round of funding. It turns out, according to Foursquare at least, this isn’t true at all.

The report claimed that the New York startup’s founder Naveen Selvadurai had stated at the MIDEM music industry conference in Cannes, France this weekend that the company was worth over $250m and may seek additional funding in 2011.

However, a Foursquare spokesperson denied the report to us, stating “Naveen did not comment on our valuation or fundraising plans.  We’re not currently in the process of fundraising.”

Despite this, er, interesting conflict of reports, things are certainly looking good for the company that kickstarted the current social check-ins craze. It reported earlier today that it had grown 3400% in 2010.