Path is a private social network. Unlike Facebook or Twitter, where ‘the more the merrier’, Path limits each user’s friend circle to 50 people. Users can share status updates, photos and videos in a more personal way. The application is mobile and caters to all of those who have privacy concerns and who do not want to share their personal life with hundreds of Facebook friends.
Nonetheless, its unique feature is also a setback when it comes to growth prospects. The fact that each person’s network is limited by nature makes it more difficult to go viral and expand beyond the early-adopter community. A trend that is visible on its bumpy SI Rank record. But Path’s overall trend is still very positive and the company scores 2.91 on the SI Rank.
Its founders include Dave Morin, ex-Facebook and Apple employee, and the creator of Napster Shawn Fanning. The experienced team has certainly played a role in the two successful rounds of investment that have brought Path $11.2m already. In May, the company launched the latest version of its application (Path 1.5) and announced plans for expansion into other languages, starting with Japanese.
The early success of Path is one of the many examples of the growing sector of niche social networks. To know more about these, take a look at our Sector Report (coming soon).