Microsoft, American Express compete for Foursquare

Microsoft and American Express are vying for an equity stake in Foursqua🥂re,𒁏 said people with knowledge of the talks.

The companies are competing to invest in Foursquare rather than cooperating on a joint bid, said one of the people. Foursquare is talking with other companies about a possible investment, and the talks may not 🍸lead to a deal, said another person with knowledge of the matter.

Foursquare, which lets users check in to show they’re visiting a place like a restaurant or shop, is also negotiating with ventu🌺re capitalists who own convertible debt about turning their holdings into equity, said one 💦of the people.

The discussions suggest that potential investors are more bullish on Foursquare’s prospects after it began reaping the benefits of a new🎐 advertising approach that lets brands target users when they’ve checked into a locale.

Those advertisements are bringing in three times the revenue Foursquare had expected, Chief Revenue Officer Steven Rosenblatt said, and Foursquare is ✃on track to beat its sales goal𒁃s for the year.

Noꦉ🌞ne of the companies would comment on a potential investment.