Path, one of the fastest-growing social media platforms, snagged another major boost in credibility this week: Britney Spears has joined.
Path is known by most, if at all, as an exclusive, small-scale social network because it only allows 150 people to be part of any users' network. Spears, who has more than 14 million followers on Twitter, joined the network as part of her tour around Silicon Valley. The pop star also stopped by the Beautylish, the fashion and style blog, during her trip. She even tweeted about her visit: Yup! That was me. RT @Beautylish was that really just @BritneySpears hanging out at the Beautylish office?!
Path is rumored to be raising Series B funding -- aiming to raise $25 million to 30 million -- according to a TechCrunch report. The popular tech blog says existing investors Khosla and Greylock have expressed interest in participating in the rumored round of funding. Path received $2.5 million in angel funding in late 2010 and $8.65 million in Series A funding, reports Crunchbase statistics.
What is Path?
Path is a social network much like Facebook. It's primarily smartphone-based and allows for photo-shariing, messaging and geo-locational data to be shared among users. Path was designed to let users share updates with those closest to them, such as family members or close friends.
We want to help people connect to close friends and family as quickly as possible, said Path co-founder Dave Morin in a Wall Street Journal report. We hope it will give people a magical feeling.
The company originally began with an iPhone aplication and a supporting website. The company recently released an Android version of the application. The New York Times recently compared Path to other rapidly growing social networks including Instagram, Highlight, Soundtracking and Pinterest.
Considered one of the best designed social apps for the iPhone and Android phones, Path recently announced that it had crossed 1 billion moments shared on the service, Nick Bilton wrote on the Times' Bits Blog. That's a lot of sharing for 'yet another social network.'
Path was built as a companion to major social networks such as Facebook and Twitter. Updates made in Path can be exported to Facebook, Twitter and Foursquare with the push of a button.