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Foursquare Raising Money at $500 Million Valuation [REPORT]

Summary In the latest sign of the Internet gold rush, location-based service Foursquare Labs Inc. is looking to raise fresh funds at a price that would value the three-year-old start-up at as much as $500 million.
Description A large slug of new money could help Foursquare to build out a local sales force to compete more aggressively against Groupon and its ilk. Right now, Foursquare has about 60 employees, while Groupon and LivingSocial have thousands, many of whom are salespeople.

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