According to a report by Bloomburg news on Thursday, Redmond-based Microsoft is in talks with social check-in site Foursquare. The Redmond-based giant isn't the only company that Foursquare is courting in hopes of finding an investment partner. American Express and possibly a for more unnamed companies are also in the running to get part of 4 year old site.
In an interview with Bloomburg, Foursquare's Chief Revenue Officer Steven Rosenblatt talked about how their company is in an expansion phase. This making this a prime time for a company looking for a mobile and social presence to invest in the young company. For that exact reason Microsoft could be the best fit since they have been lacking in both of those areas.
“We’re ramping up as fast as we can,” Mr. Rosenblatt said, noting that the company has had some single advertising purchases of more than $1 million apiece. “I didn’t think we would see a dollar from anyone overseas this year.”
In the past Microsoft has shown a willingness in investing in young social media start-ups the way they did with Facebook back in 2007. The $240 million investment paid off highly for the Redmond-based company and cemented a partnership that has benefited both sides. Of course not all of Microsoft's investments in social networking has worked as well. A good example is when they paid $1.2 billion to purchase Yammer in June of last year. Microsoft still hasn't figured out how best to integrate the company.
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