After raising $41 million in debt financing to produce a “smarter” Foursquare with a more robust ad platform, Foursquare has a casualty of its dramatic change: Head of Product Alex Rainert announced via his blog that he is leaving the company. AllThingsD reports that the longtime employee will not be replaced. Instead, CEO Dennis Crowley has split up Rainert’s work between Ad Product exec Noah Weiss and Marketing VP Jon Steinback. Rainert assures the departure won’t shake up the product, which continues to expand this month to more iOS users.

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