• All Things D, Friday, June 11, 2010 12:50 PM

Foursquare's initial investment of $1.35 million is spent, and its original investors have agreed to a modest "bridge" investment, reports All Things Digital, "citing a range of sources close to the situation." Those original investors include Union Square Ventures and O'Reilly AlphaTech Ventures, along with unnamed angel investors. Word on the street is that Foursquare founder Dennis Crowley "mucked up" his first big opportunity to fund the startup, according to All Things D.

"Talks with new VCs have been tabled for now ... as several firms, such as Accel Partners, have decided not to move forward at this point." Still, "That could change quickly ... In particular, Khosla Ventures' Gideon Yu has reportedly been keen to invest, along with other firms." What's more, Crowley's perceived muck-up "will not matter if investors feel the company is on a strong growth path." As it stands, "several people" tell All Things D that the valuation for the location-based social network is now at about $80 million.

Read the whole story at All Things D »