A Pillsbury team directed by Corporate partners Steve Amdur and Jarrod Murphy has successfully advised leading TMT-focused global merchant bank The Raine Group, as lead investor, on the entry into definitive transaction documentation providing for a $150 million investment in Foursquare Labs. The proceeds of the investment will be used in part to fund Foursquare’s subsequent acquisition of Placed Inc. from Snap Inc. Financial terms of the transaction, which announced today, have not been disclosed by the parties.
The Placed acquisition will further reinforce Foursquare’s position as a leader in marketing attribution, with more than 1,000 brands—and more than half of the Fortune 100—relying on the company for its location services and location-aware developer tools. As part of the deal, David Shim will join the Foursquare executive team as President of the newly combined company.
For more information about the deal, click here.
A multi-disciplinary team from Pillsbury advised on both Raine’s proposed investment into Foursquare and Foursquare’s agreement to acquire Placed. In addition to Amdur and Murphy, the key lawyers involved in the transactions included Corporate and Securities counsel Bianca Bowen, senior associate Alyssa K. Fiedler and associates Sean P. Devaney, John C. Byrne and Philip W. Chung; Intellectual Property partner Ngai Zhang and associate Siddhartha Narayan; Data Privacy partners Brian E. Finch and Steve Farmer; Global Sourcing partner Mario F. Dottori and counsel Sean C. Williamson; Executive Compensation & Benefits partner Jessica Lutrin; Employment Special Counsel Julia Judish; and Tax partner Nora Burke and associate Hannah Hollingsworth; among others.