Kyle
Yesterday we brought you the story of how some folks are out for blood against New York deals start up Sqoot. They misspoke and came off sexist, not once but twice. While opponents of sqoot are begging anyone that will listen to stop supporting their start up over saying that women would be at their hackathon serving beer, Path the social media network started by Facebook Alum Dave Morin, had a much more severe issue and just got another round of funding.
Although I truly feel that privacy is in the hands of the user and that if you are that worried about your privacy than you should stay off the net, Path did something far worse than Sqoot. They uploaded the complete contents of users address books to their own private servers.
More after the break
Morin admitted to his errors, wholeheartedly apologized and just closed a $20 million dollar round of financing at a pre money valuation of $250 million. See Silicon Valley is forgiving.
Business Insider is reporting that the round was led by Redpoint Ventures. Redpoint was an investor in Posterous which was acquired by Twitter last week. SAI’s Alyson Shontell suggests that the timing between the Posterous close and this new investment for Redpoint in Path may not be a coincidence after all.
Morin is speaking at tonight’s monthly Pando event. He may be sharing this news.
Source: SAI
