Foursquare, which lets users find restaurants and stores and “check” into them, is discussing a funding round that would set its value at $250 million, less than half its worth two years ago, tech news site Re/code reported on Tuesday, citing sources.

The site also said the company had talked to potential buyers.

Re/code said the funding round would raise between $20 million and $40 million and would include one new investor, which it did not name.

(Editing by Stephen R. Trousdale)

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