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reinventing itself as a "location intelligence company for business"...."In the spring of 2016, Foursquare CEO Jeff Glueck went on CNBC to make a bold prediction: Chipotle comparable sales would fall by 29 percent in its first quarter.....Two weeks after Glueck’s appearance on CNBC, the Mexican eatery reported sales had fallen 29.7 percent from a year earlier....Three of the top five hedge funds are using Foursquare data to give them an investing edge." ----- Again though actual Foursquare money or stats is barely there. The article repeats twice the goal is $100M in revenue for 2017. No indication if it is realistic, has a good chance of happening, etc. No mention of 2016 revenue or numbers. So I mean come on! What we do know is "And inside Foursquare, Glueck has effectively redefined how to measure its own success. The company managed to raise $45 million in 2016, reportedly at half the $650 million valuation it commanded in 2013. Glueck won’t comment on that. He simply says the company was misunderstood, and now investors recognize that it’s a location intelligence company -- something that should be measured the same way as a services-as-a-software or programmatic advertising firm, which command a fraction of the multiples of sexy social media companies. With the new funding round, Glueck crafted a fresh “cap table,” which means the distribution of ownership was reconstituted. (That’s often the case when a company raises money in a “down round.”)" #startups #revenue #foursquare #boss #machine_learning #data_analytics #data_driven #data_mining #revenue_model #journalism #year_2017 #pub
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