path

Path closed a $30m round of Series B funding on Monday, giving the mobile social network a $250m valuation.

The current round was led by Redpoint Ventures, with several other investors participating, including Sir Richard Branson, head of the Virgin empire, who said he is betting as much on Path’s chief executive, Dave Morin, as his product. Read more

This week, Path, the social networking app, faced criticism for storing users’ information after Arun Thampi, a developer, discovered his iPhone’s address book was uploaded to Path’s servers without his permission.

While Dave Morin, CEO of Path, apologised in a post and vowed to delete the contacts from Path’s servers, tech commentators debated how iOS developers and Apple should deal with access to user data. Read more