Social location service Foursquare has been publicly vacillating between new investment and potential acquisitions for months, but it’s finally signed off on the former. It’s closed a $20 million Series B funding round, which values the company at $95 million. It was led by VC firm Andreessen Horowitz, with Union Square Ventures and O’Reilly AlphaTech Ventures chipping in. The company is about to pass 1.8 million users, according to CEO Dennis Crowley. “We’re hoping to build a world-class engineering organization, based primarily in our headquarters in the New York City to help us develop the next generation of mobile + social + local products that will excite our users and provide unique value for local merchants,” he blogs. Like what you’ve read here? This is just a snippet from our subscription service.

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