Foursquare Will Make Just $2 Million in Revenues This Year [REPORT]

Apparently, investors have checked in with Foursquare and don't like what they see.

Foursquare is looking to raise another $50 million round of funding, but potential investors are hesitant to throw more money into the company due to concerns about Foursquare's slowing user growth and monetization strategy, according to a report in The Wall Street Journal.

The Journal reports hearing from sources that the social media startup is expected to generate a paltry $2 million in revenues this year -- a small fraction of the $153 million in revenues Facebook generated in its fourth year from ads. To be fair, Foursquare only rolled out its first revenue-generating product -- promoted upda…
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