Dave Morin’s social networking app Path laid off 13 employees today, which represents 20 per cent of the company’s staff,
according to a report from Valleywag.
“We’re working to realign the company to support continued innovation and Path 4.0.,” a spokesman for Path told Valleywag, confirming the layoffs.
“I wouldn’t read anything into it,” he added.
Valleywag also reports Path is still looking for a lead investor for a new round at a $US400 million valuation.