Some thoughts about Foursquare

It’s no secret that I love Foursquare. I signed up for the service quite early and I use the product every day. I’m also a fan of the founders, the people at the company and how the product is evolving and growing. 

And I put my money where my heart is and we invested in the company a few years ago.

Earlier this morning Businessweek wrote about Foursquare – it’s challenges, it’s plans and a new round of funding.

I’m frequently asked what is the exit strategy for many of our portfolio companies. For example after our initial investment in Twitter in 2008, I have been asked in almost every interview since that time about our exit strategy, when it is going public, will they sell out, etc. This was even before the company generated revenue! 

And I’m asked that about Foursquare as well. What is their exit strategy. Do you want them to get sold one day or go public? When will they go public?

It’s hard to predict these things and I try to avoid making predictions. My objective is that our firm invests in the best people building valuable important companies. I believe Foursquare is one of those.

The Businessweek story quotes me as saying that they will go public one day. Like I said earlier, it’s hard to predict these things. I’m guessing I actually said something like “I believe they can go public one day” or “I hope they can go public one day” but perhaps I mispoke or the writer misquoted me. Regardless of the error, I’m hoping you all understand my sentiment, hope and outlook. 

I’ll bring this post home by linking to the latest Foursquare update as described on their blog here. Give it a try if you haven’t already. And I hope you love it as much as I do.

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Update: I just exchanged emails with the writer at Businessweek. It turns out I did say “I think the company will go public one day”. But the words “I think” was dropped because of space constraints for the print version of the story. It was an honest miscommunication because their editor thought “I think” was redundant. But my intention was to make it clear this wasn’t an explicit promise for the future but more of my desired outcome.

The Carrier Question


Now that that iPhone 4S is out there, the biggest question seems to be: which carrier to go with in the U.S.?

AT&T gives you speed — they’re the only network currently supporting the 14.4 down that Apple mentioned on stage yesterday. But AT&T blows in big cities like San Francisco and New York. It’s hard to vote for speed when you can’t even get a connection at all.

Sprint gives you unlimited. Their plans are clearly going to be the best from a cost perspective. And, as the new kid on the block, they will likely have the least congested network. But they’re also the third-place carrier.

Verizon gets you reliability. They’re the most expensive and don’t offer speed or unlimited. But you pay for the quality of their network.

Right now, I’m torn. I won’t go back to AT&T because of my awful experience the last time. But Verizon versus Sprint seems to be a toss-up.

I think having the iPhone on three carriers in the U.S. is ultimately going to be a very good thing for consumers. Instead of taking features away and raising prices as AT&T and Verizon have been doing for years, they may be forced to actually compete with incentives for users. 

I’m likely going to switch back to AT&T

There is no doubt that Verizon’s voice network much better.

But I’m told the iPhone4S cant do simultaneous data and voice. And my Verizon iphone4 often loses 3G connectivity.

I’m thinking data is more important than voice.

The Carrier Question