Foursquare Near New Funding That Values It At $250 Million

December 23, 2015, 1:40 AM UTC
Foursquare CEO Dennis Crowley
NEW YORK, NY - OCTOBER 15: Foursquare co-founder Dennis Crowley speaks during the NikeFuel Forum at Spring Studios on October 15, 2013 in New York City. (Photo by Mike Lawrie/Getty Images)
Photograph by Mike Lawrie — Getty Images

Reuters) – Foursquare, which makes apps that let users find restaurants and stores and “check” into them, is discussing a funding round that would set its value at $250 million, less than half its worth two years ago, tech news site Re/code reported on Tuesday, citing sources.

The site also said the company had talked to potential buyers.

Re/code said the funding round would raise between $20 million and $40 million and would include one new investor, which it did not name.

Foursquare raised $35 million in a fundraising round in 2013. The Wall Street Journal reported at the time that round valued the company at $650 million, citing people familiar with the transaction.

Foursquare has been the subject of takeover speculation, with Yahoo being reported more than once as a potential buyer.

WATCH: For more about Foursquare, watch this Fortune video:

Foursquare declined to comment on the Re/code report.

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