Microsoft in talks to buy stake in social networking firm Foursquare: report

Aug 30 2013, 10:45 IST
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SummaryFoursquare, a start-up darling three years ago, has lost some of its lustre in recent times.

Microsoft Corp is in talks with social networking company Foursquare about a possible investment, Bloomberg reported on Thursday.

The talks are at an advanced stage, but Foursquare is also talking to other potential partners, the report said of the company whose users can "check in" to locations they are visiting and share relevant tips.

"This falls squarely in the "rumours and speculation" category," Foursquare spokesman Brendan Lewis said via email.

A Microsoft spokesman declined to comment.

Foursquare was a start-up darling three years ago. But as social networking companies have come under increased scrutiny, particularly since the initial public offering of Facebook Inc, Foursquare has lost some of its lustre, many investors around Silicon Valley have said.

Foursquare has raised a total of $112 million, including a $41 million convertible debt round in April.

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