REPORT: Path is in talks to sell its main app to a South Korean company
Path is a private social network app that people can use to share photos and posts with their friends and family. But Path never really took off in the US or Europe, instead becoming popular in Asia.
Since most of Path's active users are in Asia, it would make sense to sell its main app to a South Korean company.
Another report in September suggested that Path was in talks to be acquired by Apple. Path CEO Dave Morin used to work for Apple and Facebook and was spotted hanging out with Apple executives at a product launch.
Even if Path does sell off its main app, it would still have other apps to continue developing. Path recently launched a new app called Kong that lets user share selfies that are turned into animated GIFs. And it also has another app called Path Talk, which lets you share messages, photos, and even your battery level with friends.
Morin explained in an interview with Business Insider that Path's main app was just part of a new strategy.
"Last year, we shifted to a multi-apps or studio strategy where we have multiple apps under our umbrella," he said. "Our core app, Path, continues to grow and continues to be popular - predominantly in Asia - so we're still excited about Path."