Photo: leafar. via Flickr
Crunchfund’s MG Siegler and Foursquare’s Dennis Crowley are on stage right now at SXSW.Siegler asked Crowley why he hasn’t sold his startup. Crowley says Union Square Ventures’ Fred Wilson gave him some excellent advice about not selling out.
“During our Series B round we had a whole bunch of acquisition offers,” says Crowley.
“Fred Wilson told me, ‘There’s a difference between building a product and building a company. As soon as you go down that road [of not selling] you’re building a company.’
“It sounds super corny but we’re super psyched about that,” says Crowley. “If we keep doing what we’re doing we can be one of those big companies. Why would you not shoot for the moon if it’s right in front of you?”