FourSquare: $20 Million At $95 Million Valuation
To: Dennis Crowley, Naveen Selvadurai, Fred Wilson
Sent: July 4 @ 4:16 PM (email)
Hello Dennis, Naveen, Fred.
I believe I have an offer for you that you can't refuse.
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I am really, really good at the vision thing, vision and group dynamics, but right now I want to talk about the vision part. You have done well at scaling and monetization, but your weakness so far has been in the features department. In a recent quote in a news article Dennis has expressed a hunger for "engineers." That tells me he is bursting at the seams in terms of where he wants to take FourSquare. Naveen was throwing lops of mud on the location space wall even before he ever met Dennis. Fred is a rare visionary VC. I think you guys are swell, but I think I can help.
Price Tag: $6,000
Duration: 4 weeks
Output: An average of three posts per week at my blog, Netizen
There will be no need to worry about the public nature of my work because when you walk into a Walmart store you have seen their entire business model and so far noone has been able to copy the most successful business in the history of humanity.
I will mostly be scouring the web, thinking, and I will need to spend 30 minutes each with the five key people on the team, and perhaps an hour each with the two founders, that perhaps during the third week.
I think my work will help speed up the burn rate for the $20 million you just raised, and that is what you want. FourSquare as a company is in that sweet spot where it does not have to worry about how it will raise its next round of funding. Burn the 20 million fast and go on to raise 30 million at a 300 million valuation or something. That speed is one of the things you need to do to cement the lead you have.
I hope this makes sense and sounds like a good investment.
Looking forward to it.
Paramendra.
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