“Sorry all about the ups-and-downs at the moment (growing pains, oww). All hands on deck right now to bring us back to speed.”
Foursquare recently passed the one million user mark, and is currently signing up 15,000 users a day, according to cofounder and CEO Dennis Crowley. There were 700,000 check-ins through the service last Friday alone.
The startup has been looking to raise a large round of funding or sell for months now. In the meantime, the cash Foursquare has raised to date may not be enough to keep up with surging demand for their service. It’s a good problem to have, but it’s definitely a problem.