East-West Digital News 18 April 2012
Yuri Milner, co-founder of the prominent Russian Internet fund DST, is among the investors in Path, the much-hyped ‘mobile-centric social network’ launched in 2010. The investment round, which amounts to at least $30 million, was led by venture firm Redpoint Ventures, CNet reported on Monday, with entrepreneurs Richard Branson, Mark Pincus and Jerry Murdock, as well as investment funds Kleiner Perkins, Allen & Co. and Greylock Partners.
Milner has invested in a number of US startups. Among his recent targets over the past year were iPad medical publisher DrChrono, video chat service Airtime, and Flotype, a startup that offers realtime messaging technologies for cloud and mobile applications.
Path enables users to keep a personal journal, or “Path”, of their life and share it with close friends and family. In contrast to Facebook, the startup limits its members to a maximum of 150 friends, defined as “the people who matter most in your life.”