Path raises $30 million for mobile social networking

04/16/2012 | Wall Street Journal, The

Path, a maker of mobile applications designed for smaller-scale, targeted social sharing, has raised about $30 million in venture capital. The near-term focus will be on user acquisition rather than generating revenue for the new social network, whose valuation is now put at $250 million. "We are looking for great leadership, we are looking for a team that understands the trends that are going on in the market and a team that is executing in a space that we think is strategic," said David Sze, a partner with Path investor Greylock.

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