{
  "id": 15916393,
  "title": "How the F*ck Could Foursquare Be Sold for $0?!?!?",
  "url": "https://urgent.news/2026/10/21/how-the-f-ck-could-foursquare-be-sold-for-0",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-21T15:13:58.000Z",
  "source": {
    "name": "HackerNoon",
    "slug": "hackernoon",
    "url": "https://hackernoon.com/how-the-fck-could-foursquare-be-sold-for-$0?source=rss"
  },
  "original_language": "en",
  "account": "Foursquare, a once-valued startup, sold for $0 to ad tech company Infillion, leaving shareholders with nothing. The $412 million raised by the company, including $150 million in a 2019 deal led by Raine Group, was eaten by debt, deal costs, and team payouts before reaching shareholders. The deal, known as Project Frodo, added roughly 20% to 25% to Infillion's revenue and headcount, with most of Foursquare's employees joining Infillion's existing staff. The sale's secrecy lasted a week before details emerged in a 125-page PDF of deal paperwork. Founders and common shareholders received $0, while Infillion acquired the entire company, adding value to its existing business.",
  "summary": "Foursquare raised $412M and sold to Infillion for $0 to every shareholder. Here's how debt and liquidation preferences zeroed out preferred and common.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}