This is a guest post by the co-founder of Checkin Cashin, a site that matches Foursquare checkins with daily deals to only give you deals from places you care about.
TechCrunch is reporting that Foursquare is looking to raise another round of funding. To date it’s raised $71.4 million with it’s latest valuation at $600 million, from it’s C-Round in 2011. That may seem like a lot, however with 160 employees Crain’s New York is reporting (unconfirmed) that their burn rate (how fast they spend money) is at $2 million a month with 2012 revenues at just $2 million. The biggest question on most everyone’s mind is if the latest round will take the valuation of the company higher or lower.
As Foursquare CEO Dennis Crowley talked about at SxSW, the company is moving away from leaderboards, badges, and other incentives to providing value by harnessing the checkin data, such as by providing recommendations. With 30 million users, Foursquare is still growing, though not as fast as some may wish. Only time will tell if shifting to using the checkin data to provider value will accelerate this growth by providing more appeal.