Microsoft is funneling $15 million into Foursquare and has agreed to a multi-year deal to license the New York-based startup's location data, Foursquare announced Tuesday.
Four-year-old Foursquare makes a Web and mobile application for checking in to places and finding nearby hot spots. The company, which has 45 million registered users, completed a $35 million round of funding in December.
Microsoft's money will be pooled with those funds as Foursquare figures out how to make money on its own. As for the licensing arrangement, Microsoft is buying access to Foursquare's database of more than 60 million entries … Read more