Crowley didn’t deny it, and then went on to acknowledge that number is “ballpark”.

Which means they turned down a $140 million-ish offer when they’d only raised about $1.35 million in seed funding – they went on to raise $20 million more after the buyout talks died down. Visionary or foolish?

For what it’s worth: Foursquare just passed 5 million users, and is seeing 2 million check-ins and 25,000 new users on a daily basis.

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Authors: Robin Wauters

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