RIP Foursquare 💀
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, investors—all holding worthless paper now.
This is what happens when:
• Burn rate > revenue growth
• Debt stack crushes equity
• 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, investors—all holding worthless paper now.
This is what happens when:
• Burn rate > revenue growth
• Debt stack crushes equity
• 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.