Cofounder Naveen Selvadurai Leaves Foursquare

Foursquare’s well-dressed cofounder Naveen Selvadurai announced today that he has decided “to transition out of foursquare” almost exactly three years after the company launched at SXSW 2009. The announcement comes as a surprise; Foursquare is going strong with 15 million users and a second office in San Francisco. But Mr. Selvadurai is ready for his next entrepreneurial venture, the cofounder said, and Om Malik is reporting that Foursquare investor Spark Capital snatched up some of his stock. READ MORE