• TechCrunch, Monday, July 12, 2010 1:03 PM

For those of you keeping count, Foursquare appears to have just crossed the 2 million user threshold. "The location based social network has been growing fast, adding 100,000 users per week," reports TechCrunch. "Only three months ago, Foursquare passed one million users after taking a year to accumulate one million members." Foursquare also "seems to be growing faster than its main competitor, Gowalla."

From the stage at OMMA Social last month, Eric Friedman, Foursquare's Director of Client Services said the network had grown to 1.6 million members, and was growing 40% month-over-month. Back in April, top VC's were valuing Foursquare at $100 million, according to Business Insider -- but not because they thought it would be the next Twitter, or that the location-based social network can crack the local advertising nut. On the contrary, Foursquare is so prized because there are so few viable startups at the moment, sources said. Foursquare just raised $20 million in funding at a $95 million pre-money valuation, led by Andreessen Horowitz along with existing investors Union Square Ventures and O'Reilly AlphaTech Ventures.

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