Folks on the Virgin blog say Virgin founder Richard Branson is investing in Path. That’s the mobile-oriented social platform founded by Napster founder Shawn Fanning, Platform conceiver Dave Morin and Macster founder Dustin Mierau.
Our Josh Windisch did a walk-through earlier this year.
Path is likely a target for an acquisition, so Richard Branson’s investment is prescient and smart. Here are some details. More as the story develops from our team here at aNewDomain.net
According to the Virgin blog:
The round, which came to more than $30M in total, was led by Redpoint ventures and featured a number of other prominent investors alongside the Virgin founder including: Greylock Partners, Jerry Murdock, Kleiner Perkins Caufield & Byers, Index Ventures, Mark Pincus, Yuri Milner and Allen & Company.
In an emailed statement, Path said the team was committed to building Path for the long term and stated that the funding would be used for “international growth and expansion as well as user adoption.”
Indeed Path’s seen good growth in its user base since its re-launch in November of last year and in the wake of Instagram’s recent sale there are rumours that some organisations are already eyeing up Path as a potential purchase.