Image via CrunchBaseI just read the headlines. I have not read the full length articles yet. But I must say I am very, very surprised. This was so unexpected, to me it was. Unless the split between the two cofounders was quite tilted, or if by now after having raised several rounds of money Naveen's percentage ownership in the company had become really low, or the guy has come up with the next big thing, I mean. I have thought of
FourSquare as a company that could end up with an IPO.
Now let me go read. The guy himself has a blog post on the topic, I think. Let's hear straight from the horse's mouth. If I were him I'd have left my equity still in the company. Because that money is growing. I wonder what he did.
GigaOm:
Naveen Selvadurai, Foursquare co-founder is leaving
Business Insider:
The Co-Founder Of One Of New York's Hottest Startups Is Checking Out
Pulse2:
Foursquare Co-Founder Naveen Selvadurai Stepping Down
TheNextWeb:
Foursquare co-founder Naveen Selvadurai announces he is leaving the company to work on new projects
AllThingsD:
Foursquare Co-Founder Naveen Selvadurai Leaving
Naveen:
Next
VentureBeat:
Cue violins: Foursquare co-founder Naveen Selvadurai leaving the company
CNet:
Foursquare co-founder Selvadurai to leave company
TechCrunch:
SV Angel Also Buying Up Foursquare Stock. Dennis Crowley Emerges As Big-Company CEO
Okay, so the guy sits on the FourSquare Board.
Looks like the guy sold his stock to
Spark Capital, one hopes only some of it.
Okay, so the guy feels like he has done all he can and he needs to move on.
It is possible some of the VCs in the picture have been gently working towards this end.
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