Evaluating only Factual’s profile at its peak — without knowing the outcome — the model ranked Acquisition gone wrong as the #1 likely cause. Documented cause: Competition.
Key Events Timeline
FOUNDING
Factual founded in Los Angeles by Gil Elbaz to create the definitive global place database.
FUNDING
Raised $35M Series C; expanded Geopulse Audience mobile ad targeting to 1M+ venues.
REGULATORY ACTION
CCPA and GDPR enforcement pressure intensified; location data monetization under scrutiny.
ACQUISITION ATTEMPT
Merged with Foursquare in all-stock deal; Factual brand dissolved into combined entity.
Full Analysis
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Documented cause
Factual, an LA-based location data platform founded by Gil Elbaz, raised over $70M from investors including Andreessen Horowitz and raised significant revenue from mobile ad targeting. Despite being a leader in POI data and location intelligence, the company merged with Foursquare in January 2020 in an all-stock deal, unable to compete with Google and Apple's location data dominance or navigate the increasing regulatory scrutiny of personal location data under CCPA and GDPR.
Lesson
“Selling location data downstream from Google creates a ceiling you cannot break through organically.”