You Know What’s Cool? ⇥ techcrunch.com

Leena Rao and Alexis Tsotsis, TechCrunch:

We’re hearing from multiple sources that private social network Path is raising a new round of funding that could value the company as high as $1 billion. […]

Path, which now has 12 million users, was founded in 2010 and is led by former Facebooker Dave Morin.

A valuation of $83 per user is a little over twice that of Instagram when it was acquired, and Instagram isn’t slimy or spammy. Path thinks they’re worth twice the GDP of the British Virgin Islands.

What a crock of shit.