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Conflicting reports emerge over rumours Yahoo could purchase Foursquare

Reports claim that Yahoo could be close to completing the purchase of Foursquare, which has just launched a new location-based ad platform.

While nothing has been confirmed by Yahoo or Foursquare, TechCrunch has reported that Yahoo is keen to purchase the New York-based app as part of a restructuring under chief Marissa Mayer.

The deal could cost Yahoo as much as $900m, TechCrunch wrote.

However, ReCode disagrees with the rumors, stating that none of its sources know anything about the deal.

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