Term Sheet — Thursday April 5

GOT MONEY

Good morning, Term Sheet readers.

EXCLUSIVE: In February, Term Sheet reported that FourSquare's president Steven Rosenblatt would leave the company to launch his own venture. He has now partnered with Facebook's former director of sales Joshua Rahm and recruiting veteran Glenn Handler to launch Oceans.

The new company is being described as "a mentorship engine that partners with founders to solve core businesses challenges." In reality, the team will consult with startup founders...

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