Path is a social networking-enabled photo sharing and messaging[1] service for mobile devices, launched in November 2010. The service allows users to share with their close friends and family up to a total of 150 contacts.[2] Dave Morin, co-founder and CEO, says: Our long-term grand vision here is to build a network that is very high quality and that people feel comfortable contributing to at any time.[2] The company began with an iPhone application and a website, and later released apps for Android, iPad, and Windows Phone. The company competes with other social networks such as Instagram.[3] Based in San Francisco, California, the company was founded by Shawn Fanning and former Facebook executive Dave Morin.[4] Paths initial $2.5 million funding round[1] included Ron Conway, Index Ventures, First Round Capital, Ashton Kutcher, Kevin Rose, Marc Benioff, Chris Kelly, and others.[4] It subsequently raised $30 million in venture capital from Redpoint Ventures. On January 11, 2014, the company announced it had raised another $25 million in venture funding from Indonesian Bakrie Group, Kleiner Perkins Caufield & Byers, Index Ventures, Greylock Partners, Insight Venture Partners, Redpoint Ventures, and First Round Capital.[5] Indonesia is the worlds largest Path users with more than 4 millions users.[6]
Posted on: Mon, 10 Mar 2014 20:46:35 +0000
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