Now we know why Facebook didn't build a good mobile app. It didn't have to. It could afford to pay $1 billion for a 14-person company, Instagram, that managed to figure out the secret sauce for winning over smartphone picture-takers. So, clearly, Path is next, right?
Not exactly. Path has a lot going for it, but it's lacking some key elements. It's a valuable company, but arguably over-valued given its recent funding news: A $40 million funding round from Redpoint Ventures (source: AllThingsD). Update 5:24 p.m.: Path said it has raised $30 million in … Read more