Path an emerging competitor to Facebook has a valuation around $200M-$250M

Path is the simple and private way to share life with close friends & family. Founded by Dave Morin, previously Co-Inventor of Platform and Connect at Facebook with Shawn Fanning, creator of Napster, and Dustin Mierau co-creator of Macster.

Britney Spears has just created a Path account, which is sort of counterintuitive as the mobile social network only limits you to 150 friends. Briteny has more than 14 million followers on Twitter. Rumor also has it that Path is raising a Series B round of funding, wanting to bring in between $25 million to $30 million at a $250 million valuation. Existing investors and Khosla and Greylock have expressed interest amidst an environment that is producing many high-profile Series B raises.

The company has previously raised a total of $11.2 million in angel and Series A venture capital funding from Index Ventures, First Round Capital, Founders Fund, SV Angel, Crunchfund and others. It recently experienced unprecedented scale, due to a successful pivot according to Techcrunch. Thus, Path has grows daily users 30x since relaunch. Google wanted to buy the firm for $100M.

Path relaunched in November, changing course from photo-sharing to everything sharing, in a beautifully wrapped package with emphasis on simplicity. Many have likened the product to a better designed Facebook for your phone, which is fair and probably a compliment. But everything isn’t coming up roses, and the product still has kinks it needs to iron out.

Users are sharing more things on the new Path in a day then they had on the old Path in a year — at a rate of 12 moments per second. The company is seeing 30x the number of daily active users, going from 10K to 300K in two and a half weeks. Rumor has it that it’s seeing 100k downloads a day.

Louis Rhéaume
Infocom Intelligence
louis@infocomintelligence.com
Twitter: @InfocomnAnalysis