The internet company has acquired social network Path, which has a sizeable Indonesian user base, allowing Digital Garage and Bakrie to exit.
Internet company Daum Kakao agreed yesterday to acquire US-based social network Path for an undisclosed sum, granting an exit to investors including internet holding company Digital Garage and conglomerate Bakrie.
Founded in 2010, Path aimed to establish a social network more intimate than that offered by Facebook, allowing users to exchange pictures and messages with up to 150 friends. It eventually elected to focus on Southeast Asia, where it gained the most traction, with Indonesia its largest market.
Path had…
