Before all the buzz and acquisition offers, Foursquare was just an idea in Dennis Crowley's head. He recently sat down with Chris Dixon to tape an episode of Founder Stories. Above is Part I of that interview (we will post the rest throughout the week), in which Crowley talks about the origins of Foursquare and its predecessor, Dodgeball. The company incorporated just so that it could get into iTunes. And when he raised his first $1.35 million angel round in 2009, Foursquare didn't even have a bank account. He remembers (at the very end of this clip, around 6 minutes in) having to run to a Chase branch office in Manhattan, and telling the bank officer, "We need to set up a business account and we are going to wire in, like, a million dollars. Is that okay?" 
Source: http://feedproxy.google.com/~r/Techcrunch/~3/fezuLQvYqOg/
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