Photo: jenny8lee via Flickr
Digital Sky Technologies, the Russian firm that has invested big bucks in Web winners Facebook, Zynga, and Groupon at very high valuations, is not pursuing an investment in hot mobile startup Foursquare, a source personally familiar with the situation tells us.Despite some reports to the contrary, Foursquare is not DST’s kind of deal.
DST’s strategy is to make huge, expensive bets on sure winners at very generous valuations that VC firms can’t afford.
(Yes, DST looked at investing in tiny startup Chatroulette, but that’s because it’s from Russia. Seriously.)
The reason anybody is reporting that DST is interested in Foursquare is that DST spent some time with Foursquare at SXSW. Thing is: What investor there didn’t?
Really, all you need to know about the Foursquare funding race you can find here: The Facebook-Foursquare rumours And Everything Else You Want To Know About Tech’s Hottest Funding Race.
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