Mobile Social Network Path Loses Its CTO And Head Of Business

Nathan folkman samsungLinkedInNathan Folkman was Path’s CTO. He left the company in October.

Turnover at any company, especially a startup, is normal. But in the past month, mobile social network path has seen a few of its top people depart.

In mid-October, Path laid off 20% of its staff. It has lost its CTO Nathan Folkman in October, who now works for Samsung as its Director of Engineering. Folkman was formerly employed by AOL, Betaworks, Foursquare and Facebook.

This week, early employee and Head of Business Matt Van Horn departed as well. He and Path’s iOS developer, Nikhil Bhogal, are starting a company together.

TechCrunch’s Alexia Tsotsis reported the departure of Van Horn along with a rumoured fundraise. Tsotsis says Path may be raising $US7-10 million from Facebook and Asana co-founder Dustin Moskovitz while maintaining the valuation of its last round, $US250 million. Earlier fundraising reports said Path was trying to raise a new round at a $400 — 500 million valuation but had trouble finding a lead investor.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

path sai-us