Dallas, Texas 08/30/2013 (Financialstrend) – Discussions between Microsoft Corporation (NASDAQ:MSFT) and Foursquare Labs Inc. regarding an investment from the software maker entered into an advanced phase, as per a latest report.
The report said that Microsoft is looking at a planned investment into the location-based social network.
Microsoft and Foursquare agreement not yet confirmed
As per those acquainted with the matter and quoted by reports, discussions with Microsoft Corporation are at an advanced phase however the contract is not certain thus far. As per sources, the company is not the only firm that Foursquare is discussing the matter with, and the discussions with the Redmond company may not lead to a deal.
Foursquare has gathered over 20 million registered users since its foundation in the year 2009. The firm has failed to show an ability to turn those user numbers into proceeds, however, and has had to revert to market for financing on several occasions. The company has recently introduced a novel advertising model that permits advertisers to target users, which have looked into specific locations.
That new approach has made PE more optimistic on Foursquare, and there are clearly a number of interested parties attempting to secure an investment in the firm.
Back in the month of April, the firm lifted up $41 million, issuing mostly arrears rather than equity.
Microsoft appoint new “channel chief” for Worldwide Partner Group
Microsoft Corp. has declared that it has named Phil Sorgen as corporate VP of the firm’s Worldwide Partner Group. Phil will handle a group of sales and marketing experts tasked with assisting Microsoft’s 640,000-member-sturdy partner area taking advantage of innovative regions of growth in internet-based computing, mobility, gigantic data in addition to enterprise social technologies.
Phil Sorgen previously headed the firm’s U.S. Small and Midmarket Solutions and Partners (SMS&P) Group that offered Microsoft technology solutions for over 20 million small and midsized biz sections in US.