Mobile Social Network Path Loses Its CTO And Head Of Business

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.

On October 15, 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 departures of Van Horn and Bhogal along with a rumored fundraise. Tsotsis says Path may be raising $7-10 million from Facebook co-founder and Asana CEO Dustin Moskovitz while maintaining the valuation of its last round, $250 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.