Four VC Firms Battle For Foursquare, Valuation Goes Stratospheric

foursquare dennis crowleyYes, it doesn’t suck.

Photo: Scott Beale / Laughing Squid

What do

,

,

and

have in common? Besides being tier one venture capitalists, at least one thing: They are all fighting furiously to be the lead investor in

next venture round.All that competition is driving the valuation massively upwards, too. A couple of weeks ago we’d heard that the deal would likely be closed at around a $50 million valuation. Today we’ve confirmed that the final price will likely be $60 million – $70 million. They’re raising around $10 million, which means when it’s all over Foursquare will be worth up to $80 million on paper.

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