South Korean mobile company, Daum Kakao Corp has acquired Path and Path Talk, the messaging app.
“We created Path as a network that brings users a source of happiness, meaning and connection. We’re very proud of what we’ve accomplished over the last 5 years together with 10 million monthly active users, but we’ve reached a point where more resources are needed to help accelerate Path’s ability to grow and scale,” said Dave Morin, CEO and co founder of Path. Morin added, “We believe Daum Kakao, with its deep understanding of the Asian market and experience in leading mobile innovation, will be able to provide Path users with additional resources and value.”
Path was first developed in November 2010 to provide users with a personal, private environment for sharing and connecting. Path’s selective sharing features, which allow users to share posts with just a designated group of friends, appealed strongly to the Asian market and contributed to its leadership in the South East Asia region, especially in Indonesia.