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Foursquare Funders Make Their Case

On the heels of Foursquare's latest round of funding, Fast Company is asking: "What exactly is so hot about this hot-topic location-based game tech?" Its visionary co-founder and CEO Denis Crowley, for one, according to Ben Horowitz -- whose VC firm Andreessen Horowitz participated in the latest $20 million round, along with Union Square Ventures and O'Reilly AlphaTech Ventures. What's more, "When you look at the numbers [it's] growing faster than Twitter did at this stage," writes Horowitz in a blog post.

"At a macro level, over 4.6 billion people have mobile phones," which, for Horowitz, means plenty of opportunities for Foursquare to make it big. Also, as Fast Company notes, "It reminds [Horowitz] of the clever way Zynga leveraged a friendship network to make a success of a gaming system, and Zynga's success is evident." Meanwhile, Union Square's principal Fred Wilson blogs about what some have called Foursquare's "mismanaged" fundraising efforts. On the contrary, he writes, Foursquare's "founders were wise to take their time."



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