Foursquare's $0 exit: Dennis Crowley's farewell after 17 years
dbreunig · x · 2026-10-21
Foursquare founder Dennis Crowley published a farewell post revealing the company was acquired last month with equity holders getting $0 — acquisition paperwork shows every share of preferred stock was "cancelled and extinguished, without any conversion... or payment of any cash." He apologizes to 1,600 former employees over 17 years and says he wrote the post to preserve the record and hold leadership (including himself) accountable. The post includes a hand-drawn chalkboard timeline from the 2009 SXSW launch.
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