Foursquare cofounder says acquisition gave $0 to equity holders, leaving him 'heartbroken'

What happened: Foursquare cofounder Dennis Crowley wrote that the company's acquisition by Infillion paid $0 to equity holders, with no money offered for preferred or common stock. Key numbers: $0 paid to equity holders; company launched in 2009 and acquired 17 years later; about 1,600 former employees over 17 years; Glassdoor Why it matters: Crowley said leadership was unable to preserve or create value in the six years after the private equity investment, and he wrote that he wished he had been louder on the board. Infillion said Foursquare had remarkable technology and a talented team.

Foursquare acquisition reportedly gave $0 to equity holders, signaling total equity wipeout.

Foursquare acquisition reportedly gave $0 to equity holders, signaling total equity wipeout. — impact context not separately stored; see What changed.