Location-based services firm Foursquare earned a vote of confidence this month with a $41 million injection from a group of private-equity firms, cash that will buy the social media application startup time to expand. The investment also puts off a market debate on Foursquare's true value after it took in just $2 million in revenue last year. Foursquare also introduced an iOS update on Wednesday with an app that emphasizes the service's shift to focusing on discovering and recommending sites.
Foursquare raises $41 million
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