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Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

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Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#22
post #20

I guess I'm part of the small minority who love Path. It's my favorite app, I use it almost every day. I use it strictly with my immediate family - my brothers, sister, their spouses and my parents. I barely have time for Twitter, I don't use Facebook, but I use Path. Their pitch about deeper connections and about being real and authentic rings true to how we use it. I'm quite disappointed to watch them flounder.

I really really want to like this app more -- I love the journaling implications, and the design just makes me smile every time I open it -- but its vision will be its downfall:

1) The "smaller, tighter" social network just diminishes its viral component by design 2) The mobile only approach means I can't type out a longer post or entry about my day 3) Lack of viable monetization options means I can't trust my data long-term with them. 4) Lack of non-people "Paths" -- i.e. I really like to follow certain companies/organizations on Facebook because I can keep up to date with what's going on. For example, I follow a few yoga studios on FB because they're always discussing new classes, teachers, class changes, etc. Say what you want about FB & Twitter, but they know how to craft addicting news feeds that I consume like water.

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#23
post #9

In Path's position what would you do with this capital?

Pay back the original Path investors $25m. Pray that the money isn't connected to Suharto[1]'s old boys network and never take a holiday in Asia again. [1] https://en.wikipedia.org/wiki/Suharto

Sounds familiar. Oh yeah. http://en.wikipedia.org/wiki/Ponzi_scheme

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#24
Bakrie is one of the big players in the politic of Indonesia. It makes sense for him to try to control the (maybe 2nd) most used social media platform in Indo. He probably expects to have the same influence as what Obama 2008 digital campaign team had.

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#25
post #7

Earlier quoted context omitted.

Can you explain your reasoning behind this?

How much are Path going to charge for their stickers? How many do they expect to sell? Average salary in Indonesia is $3420. http://data.worldbank.org/country/indonesia

A good estimate would be how much LINE has been able to charge for their stickers there.

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#26
post #24

Bakrie is one of the big players in the politic of Indonesia. It makes sense for him to try to control the (maybe 2nd) most used social media platform in Indo. He probably expects to have the same influence as what Obama 2008 digital campaign team had.

Being an investor for Path (and potentially have some say to their roadmap) is not the same with Obama 2008 digital campaign team. I doubt Abu Bakrie can utilize Path (since it's a close/private social network) the way Obama team did with social media back then and most recently.

This is Bakrie VC group, not Bakrie himself. More like his sons/daughters (second generation) using Bakrie's wealth, not him.

This is more like "my cars are better than yours" among the rich in Jakarta. Follow the startup scene there and you'll realize a pattern.

The richest family in Indonesia not too long ago bought kaskus.co.id (one of the most trafficked website in Indonesia) for $60M (rumour) and I'm almost sure the ROI is Mission Impossible (^_^).

It's more "I've got lots of money, gotta spend some somewhere...".

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#27
post #9

In Path's position what would you do with this capital?

Pay back the original Path investors $25m. Pray that the money isn't connected to Suharto[1]'s old boys network and never take a holiday in Asia again. [1] https://en.wikipedia.org/wiki/Suharto

Money isn't related for sure. Bakrie is on their own.

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#28
post #19

Earlier quoted context omitted.

They're the highest iOS grossing social network in Indonesia.

Pretty solid reason for an investor there to take on risk. I imagine they're users themselves then too.

A $500 million dollar valuation based on being strong in Indonesia? Something doesn't add up.

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#29
post #14

Earlier quoted context omitted.

Take the money and invest it in Bitcoin.

Just out of pure morbid curiosity; would that be a criminal/illegal offence?

Many investment terms do not allow investment in other assets without permission of the board.

Re: Path Closes $25 Million Funding, Led by Indonesia’s Bakrie Global Group

#30
Such negativity in this thread. Do we all love to hate someone who is working hard on their startup just because they are jerks[1]? Even if the CEO is a jerk, they have a nicely designed product with a seemingly noble goal, with a talented pool of people working behind the scenes, working towards their objectives.

Sure, they have their bad moments (pun intended), being caught uploading users' address books, spamming user's friends with invites and perhaps paying for downloads. No one's perfect and some of us sometimes do try to stretch things a little to see how far we can go. Don't we?

I remember the joy I felt when they released Path 2.0 and I chanced upon it. The cover photos, pulling down the timeline to see more of the cover photo, the smooth springly animation they use for the actions button, the gorgeous sign up screens. Most of these concepts have been utilized in some form in other apps now. These people create good work.

We should be rooting for them, not cursing them.

PS: Just a fan of the work behind it, not friends with anyone involved in the company. Just someone exercising a little bit of common sense and empathy. PSS: and to those who want to know, just look at their app in the various app stores and you would already know how much they charge for stickers and subscription. No need to predict or guess.

[1] Seem to be a jerk, according to a single interview. And according to https://news.ycombinator.com/item?id=7039043 and write-ups else where, PG seems to be sexist (and racist?). Do we just take things people say as the whole truth, at face value?

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