Photo: Dennis Crowley via Teendrama
Two years ago, Dennis Crowley had a tough choice to make.The entrepreneur who cofounded Foursquare was being offered $125 million for his company — or so several reports say.
Crowley wasn’t wealthy. His first startup, Dodgeball, had been acquired by Google, but not for a hefty amount. Prior to Dodgeball Crowley was a student and a snowboarding instructor.
Still, Crowley walked away.
We called Crowley a few weeks ago for an extensive interview about his career. We asked him: “How did you walk away from Facebook and other companies that offered you millions for Foursquare?”
He said Foursquare never commented on any of those rumours, but he did tell us this:
“We talked to a couple different companies about acquisitions — it comes up anytime you do a fundraising.”
Crowley is referring to the $50 million he raised last summer for Foursquare.
“Of course it’s a tough decision because you’re trying to figure out what’s the best thing to do for your company. Your company is your baby at that point…You have to make a call and weigh the pros and cons. If we bring in someone else, are they going to help us build our vision? Or does that mean some of the roadmap gets chopped off because it has to fit into someone else’s roadmap?”
Crowley may not have been able to walk away from the $125 million offer without his Google/Dodgeball acquisition experience. Google stifled and ultimately shut down Crowley’s product.
“Going through that makes us want to hold onto this company a little longer and make sure we’re actually able to build and execute all the things we want to do while maintaining control over all of it,” says Crowley.
Crowley says his team is just starting to scratch the surface of what Foursquare can be.
To read the exclusive interview with Crowley, click here.
For more about Dennis’ career in pictures, click here.