Yahoo's mergers and acquisitions team is considering buying location-based startup Foursquare for about US$100 million, Business Insider reported today.

Foursquare CEO and co-founder Dennis Crowley, meanwhile, met with companies such as Facebook, Twitter and Apple last week.

"A Foursquare acquisition makes tons of sense for Yahoo, where product executives believe that paradign of Web pages could soon go away, to be replaced by a universe of service built on Internet-connected devices in, around and outside the home. It would be a relatively cheap way for Yahoo CEO Carol Bartz to show employees and Wall Street that she's serious about innovating," according to the Business Insider article, posted by SFGate.com.

A spokesperson for Yahoo and Crowley declined to comment.