Photo: The Deal
Foursquare raised $50 million this summer. When companies raise that much money, it can be because they want to acquire products or talent.The Deal’s Mary Kathleen Flynn asked Foursquare’s General Manager Evan Cohen how he feels about acquisitions.
Cohen said it isn’t Foursquare’s primary concern, but it might be open to acqui-hires or product acquisitions in the future.
“Our first strategic focus is to try and build teams, first in Europe and then potentially in Asia [where more than half of Foursquare’s usage is],” says Cohen.
“We’ll see how it goes to be frank. If we have have too much trouble competing and growing quick enough, we’ll be open to potential acquisitions.”
He says the company would first look for talent acquisitions, then product acquisitions.
“The first potential area we would focus on is talent acquisitions — buying small startups that might have two or four or 10 brilliant engineers and product folks who, for whatever reason, have not quite gotten traction in the market and are looking to join a slightly bigger ship with more momentum,” says Cohen.
“Another category, maybe down the road would be a company that has a product set or a set of technology that we want to integrate. But I don’t think we’re quite at the stage where we’re seriously considering those types of buy-ins.”
Acquisitions might be in Foursquare’s future, but what’s in store for other social media companies? Check out The Future of Social Media panel with Twitter at Business Insider’s IGNITION: Media conference on November 30-December 1 in NYC!
Watch the full Foursquare interview, below:
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