Foursquare Will Fail This Year, Predicts Report

PrivCo, a company that supplies financial research into private companies, is predicting that Foursquare will fail in 2013, likely by being sold for a price lower than total $71.3 million in funding the company has raised. The social network boasts 20 million members and 5 million daily check-ins, but, according to a PrivCo report, is failing to meet investors’ or internal projections “quarter after quarter.” The report suggests that Foursquare has been grossly overvalued by venture capitalists. Had it not had such “nosebleed” valuations, perhaps it, instead of competitor Gowalla, would have been acquired for Facebook to build out its

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