Path, a mobile application that enables people to share comments, photos and videos with close friends and family (a mobile personal journal), has raised approximately $30 million in a financing round that values the company at roughly $250 million, according to reports. Redpoint Ventures led the round and was joined by Greylock Partners, Kleiner Perkins Caufield & Byers, Index Ventures, and personal investors including Sir Richard Branson.
Path is a year and a half old, and reportedly has almost 3 million users, and is not profitable.
Why is this important? Because mobile photo-sharing application company Instagram was acquired by Facebook last week at a valuation of $1 billion. As people shift their social networking experiences to mobile platforms, companies like Instagram and Path become more valuable.
Links to stories on Path:
WSJ.com (subscription firewall): http://online.wsj.com/article/SB10001424052702304299304577348302143474314.html
TechCrunch:
http://techcrunch.com/2012/04/16/path-announces-30m-round-of-funding/
AllThingsD.com:
http://allthingsd.com/20120416/path-confirms-series-b-funding-from-redpoint-richard-branson-and-others/
GigaOM: http://gigaom.com/2012/04/16/path-30m-funding-round/
Path is a year and a half old, and reportedly has almost 3 million users, and is not profitable.
Why is this important? Because mobile photo-sharing application company Instagram was acquired by Facebook last week at a valuation of $1 billion. As people shift their social networking experiences to mobile platforms, companies like Instagram and Path become more valuable.
Links to stories on Path:
WSJ.com (subscription firewall): http://online.wsj.com/article/SB10001424052702304299304577348302143474314.html
TechCrunch:
http://techcrunch.com/2012/04/16/path-announces-30m-round-of-funding/
AllThingsD.com:
http://allthingsd.com/20120416/path-confirms-series-b-funding-from-redpoint-richard-branson-and-others/
GigaOM: http://gigaom.com/2012/04/16/path-30m-funding-round/
