Dave Morin's Mobile Social Network Path Lays Off 20% Of Its Staff
Oct 16, 2013, 03:20 IST
Dave Morin's social networking app Path laid off 13 employees today, which represents 20 percent of the company's staff, according to a report from Valleywag.
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"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 $400 million valuation.