During a recent Cornell Tech @ Bloomberg event, Foursquare Founder Dennis Crowley shunned Facebook comparisons, Bloomberg Business reports.

“A lot of the old valuation baggage that we were carrying was tied to this idea that we have to become Facebook someday,’’ Crowley said at a Cornell Tech event at Bloomberg’s headquarters in New York.

Foursquare had been valued based on how many people in the U.S. use the apps on a daily basis and seeing the advertisements inside Foursquare and Swarm, much the same way Facebook Inc. makes money, Crowley said.

 Read the full article on Bloomberg Business.