[nothxbro]

I have no idea how they managed to pull that off since foursquare has so little usage today. If I look back a year or more ago, I had tons of friends using foursquare. Now? None.

I am guessing the loan from silver lake makes up 80% of the round and gives them top preference on a liquidity event as well as a 3-5x preference and maybe even monthly interest payments.

As for the convertible debt, I would guess it is likely that comes with a major, major discount on the next financing. That would also means that unless foursquare can completely turn its ass around, it would be super unattractive for any new investor to come in. So it goes without saying that the convertible would also have a short fuse of 48 months or less, which would convert at a some crazy low valuation if they did not raise another round.

If I was in charge over there, I would be thinking very heavily about what is best for my shareholders to get value and that would almost certainly be some form of a exit. However its not known if any suitors would be interested in foursquare at this point.

[ry0ohki]

I wonder if this sentiment is similar to the "no one uses Hotmail" type comments I hear from tech people. It seems like lots of people still use it based on the number I check-ins I see. It may not be quite as trendy these days but it's definitely gone mainstream.

[Pent]

Anecdotally, myself and several friends use Foursquare fanatically. Though I've been waiting forever for Foursquare to do something more with the service itself.