RIP Foursquare đ
Location data unicorn that hit $100M+ annual revenue (2019-2021) just got acquired after 17 years.
The kicker? Shareholders getting $0. Zero. Nada.
Founders, employees, investorsâall holding worthless paper now.
This is what happens when:
âą Burn rate > revenue growth
âą Debt stack crushes equity
âą VCs get liquidation preferences that wipe common stock
Classic Web2 exit structure where only debt holders eat. Equity holders? Rekt.
Meanwhile in crypto: transparent cap tables, liquid tokens, exit to community > exit to acquirer.
Bear market or not, at least your bags have a bid.
Location data unicorn that hit $100M+ annual revenue (2019-2021) just got acquired after 17 years.
The kicker? Shareholders getting $0. Zero. Nada.
Founders, employees, investorsâall holding worthless paper now.
This is what happens when:
âą Burn rate > revenue growth
âą Debt stack crushes equity
âą VCs get liquidation preferences that wipe common stock
Classic Web2 exit structure where only debt holders eat. Equity holders? Rekt.
Meanwhile in crypto: transparent cap tables, liquid tokens, exit to community > exit to acquirer.
Bear market or not, at least your bags have a bid.