Foursquare chief executive Dennis Crowley stands aside to make way for Jeff Glueck
Foursquare chief executive Dennis Crowley has revealed he is to stand aside to enable chief operating officer Jeff Glueck to assume his responsibilities as he switches to his new role of executive chairman.
Chief revenue officer Steve Rosenblatt meanwhile will become president of the location-based app, completing the management reshuffle.
Outlining the rationale behind the his move Crowley said it would… "allow me to focus full-time on vision and innovation, long-term strategy and creating new consumer products".
"If this sounds more like my job from 2010 than my job from 2015... well, that's the point."
The shake-up coincides with a $45m funding round led by Union Square Ventures which reportedly values FourSquare at just $250m, a sharp reduction on an earlier $650m valuation.
Foursquare has recently completed a refresh of its app and websites, which now court a combined 50m users per month.