Foursquare has recently let go of 105 employees

Foursquare, the popular location-focused company that merged with Factual in 2020, has announced significant layoffs in an effort to streamline operations and improve financial stability. According to an email sent out to employees by CEO Gary Little, 105 employees have been let go, representing roughly 25% of the company’s workforce.

The impacted employees had their system access removed immediately upon receiving the notification from Foursquare. The company plans to discontinue certain divisions, including Visits, OCF, and Foursquare City Guide, as well as pause work on initiatives such as Mobile Developers Tools and FSQ Insights.

Foursquare, once known for its user check-in feature and hyperlocal ad revenue model, has evolved into an enterprise tech company that provides data services to brands and publishers. The company’s merger with Factual further solidified its position in the location-based marketing industry.

This is not the first time Foursquare has undergone layoffs, with previous rounds occurring during the merger with Factual and in 2022. Little, who became CEO in late 2020, was brought in to help grow the company following the merger with Factual, which was backed by The Raine Group.

Despite not publicly announcing any new funding rounds since 2019, Foursquare has raised an estimated $400 million over its 15-year history. The company’s latest round of layoffs reflects its ongoing efforts to adapt to changing market conditions and ensure long-term financial sustainability.