Foursquare Passes 1 Million Users

Foursquare Passes 1 Million Users

Foursquare Passes 1 Million Users

Love it or loathe it, Foursquare seems determined to stay now that it's passed the 1 million users mark. It's also expected to announce a funding deal soon that should keep it running for a good long time to come.

Foursquare, a service that lets you share your whereabouts with others, has just passed a million members. More to the point, perhaps, it is being courted by big technology companies and venture capitalists.

The New York-based start-up is expected to announce a funding deal shortly that could value it at $80 million (£53 million), or more. Yahoo! is reported to have made a $100 million offer for the company that the founders, Dennis Crowley, 33, and Naveen Selvadurai, 27, have rejected. Microsoft, which has a partnership deal with Foursquare for its Bing search engine, and Facebook have also looked into buying it.

Read the full story over at the Times Online.