redpoint

Path, the popular photo-sharing social network, is about to announce it has closed a $40 million round of funding that values the San Francisco startup at $250 million, according to sources who spoke to All Things D. Update 5:24 p.m.: Path said it has raised $30 million in a funding round.

The report, which came out late last night, said that the new round was led by Redpoint Ventures and could be announced as early as today.

The company, which was founded by Dave Morin, who co-created the Facebook Platform, and Shawn Fanning, the co-founder of Napster, has … Read more