Sir Richard Branson Invests in Path! a new Social Network

, a mobile centric social network recently raised $40 million from a number of investors including , Virgin Group Founder and this is what Richar, the man of few words but with lots of dollars had to say about the investment calling it’s founder and CEO David Morin “a genius”

Invested in a fantastic personal network called Path recently. The reason I am interested in Path is because it is a beautiful looking site for people who really want to stay in touch with family and friends. It has become very popular with those who want a slightly more intimate social network.

Dave Morin, the Co-Founder and CEO of Path is one of the geniuses who helped set up Facebook in the early days. It’s great seeing so many innovative new ways to communicate, including the likes of Twitter, Google+ and Facebook of course!

Other investors include Redpoint Ventures, Yuri Milner, Kleiner Perkins Caufield & Byers, Index Ventures, the Russian investor with stakes in Facebook, social games company Zynga and Twitter, and Mark Pincus, the chief executive of Zynga in the round. This is what Redpoint had to say on why it led the round of funding:

With Path, the market and idea are equally compelling. Dave has re-imagined a world where mobile devices are the center of a person’s social fabric. By building an extremely personal and mobile-centric social network, Dave has tapped into the essence of what people like to do with their devices day in and day out — stay connected and share experiences. By creating a network that is both impeccably designed and conveniently available in your pocket all the time, Path has created the first truly personal network that allows people to express themselves to their family and friends in ways they can’t, or wouldn’t, do anywhere else. 

Redpoint has always been interested in re-imagining networks and applications on new platforms that are nascent but hold the promise of capturing the imaginations of a new generation. This is why we invested in Rick Marini’s re-thinking of the professional network at BranchOut and Travis Katz’s innovations around social travel recommendations at GogoBot. This is why we invested in Caterina Fake’s vision of every location having a story around it at Pinwheel. With the addition of Path, we welcome my friend and brilliant entrepreneur, Dave Morin and the Path team to our family of great entrepreneurs, and thank them for allowing us to be a small part of their journey.  

It is indeed humbling to know that such crazily driven, brilliant, awesome, hungry, passionate founders are working 24×7 for all of us as – both as investors and consumers – so on that note, welcome Path to our growing team. We can’t wait to see what’s next!

Path currently has over 2 million users, the news comes only a week after Facebook acquired Instagram, a popular photo-sharing app which has yet to generate revenues from it 40 million users, for a cool $1 billion

[Via The Next Web]

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