"Dave Morin's "thoughtful" private social network raised $60M to fix Facebook. Sold to Kakao for a nominal sum. Shut down in 2018."
$60M
RAISED
—
EMPLOYEES
96
MONTHS
competitionFire Sale
Distressed acquisition below last-round valuation
// Fatal mistake: Privacy scandal in 2012 — uploading address books without consent — fatally contradicted the core brand promise of thoughtful, trustworthy sharing
Key Events Timeline
2010-01
FOUNDING
Path founded
2010-11
PRODUCT LAUNCH
Path launches with 50-person friend limit, later expanded to 150 per Dunbar number research. Dave Morin pitches it as the antidote to Facebook's performance culture.
2011-11
FUNDING
Raises $30M Series B from Kleiner Perkins and Index Ventures. Mark Zuckerberg and Bono invest personally. Valuation approximately $250M.
2012-02
REGULATORY ACTION
Discovered uploading users' complete address books to Path servers without permission. FTC investigation opens. $800,000 settlement. Privacy brand fatally damaged.
2013-09
REGULATORY ACTION
Second privacy scandal: Path allowed children under 13 to register, violating COPPA. Further FTC action. Reputation as 'thoughtful' network effectively over.
2014-06
PIVOT
Strategic pivot under pressure
2015-05
ACQUISITION ATTEMPT
Sells to Kakao Corp of Korea for nominal sum after failing to achieve meaningful scale outside South Korea. 2010-2015: $60M consumed.
2015-06
ACQUISITION ATTEMPT
Fire Sale: Path ceases operations
2018-06
SHUTDOWN
Silent Shutdown: Path ceases operations
2018-10
SHUTDOWN
Kakao shuts down Path in October 2018 after failing to integrate it into its ecosystem. 8 years, $60M raised, zero lasting impact.
🔥 Hall of Flame 62%🏆 Hall of Fame 68%
Path was founded in 2010 by Dave Morin (former Facebook Platform lead), Shawn Fanning (Napster co-founder), and Dustin Mierau in San Francisco.
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