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