How the F*ck Could Foursquare Be Sold for $0?!?!?

This story was originally published on HackerNoon at: https://hackernoon.com/how-the-fck-could-foursquare-be-sold-for-$0. Foursquare raised $412M and sold to Infillion for $0 to every shareholder. Here's how debt and liquidation preferences zeroed out preferred and common. Check more stories related to programming at: https://hackernoon.com/c/programming. You can also check exclusive content about #foursquare, #infillion, #startup-exits, #liquidation-preference, #cap-table, #venture-capital, #acquisitions, #startup-funding, and more. This story was written by: @writedown. Learn more about this writer by checking @writedown's about page, and for more stories, please visit hackernoon.com. Infillion bought Foursquare, and every share, preferred and common, was cancelled for nothing. A $412M capital stack of debt and preferences explains how a company once valued at $650M sold for $0 to equity.