what do you think aboutsnapchat? >> i do not use it so much. think now that there are a number of tools for people to use, they use what they are capable of. i use foursquare, twitter, and maybe a little bit of facebook. >> do you think that they were right to turn down $3 billion for facebook? you sold the company wants. >> i can empathize. you come around to thinking your way of thinking was not right. i respect that. >> we will talk more about your grand vision with foursquare. we have these ceo of foursquare. we will talk more about his turnaround plans, coming up on "bloomberg west." ♪ >> welcome back to "bloomberg west." i am emily chang. i am here with sam grobart on the set in new york. we are talking about foursquare. the company last year raised $40 million worth of debt and another $35 million worth of funding. foursquare's ceo dennis crowley is with us as well. you are using this money for the new foursquare. more of a location discovery app. tell us about it. >> foursquare has always been about location discovery. two things we hav