Some facts about Path’s Bakrie investment.
Anindya Bakrie led this move.
$25 million is spread among eight investment companies.
Bakrie Global led the round, which means as an individual investor, the group put in the most money this time compared to the others.
Nobody is saying how much each investor put in.
Path has raised $65 million so far. $10 million in series A, $30 million in series B, and $25 million in series C according to Morin.
The $30 million was raised in 2012 at $250 million valuation, although AllThingsD said it was $40 million.
If it was a $40 million round, that meant $75 million raised total.
Path closed a $7 million down round (lower/flat valuation than previous) in late 2013 from a number of investors including Facebook co-founder Dustin Moskovitz. Not sure if this $7 million is included in the $25 million just announced.
The $25 million investment closed this month from Bakrie et al at a valuation higher than $250 million but not disclosed, possibly up to $400 million.
Path was looking to raise $50 million at $500 million valuation in July 2013.
TechCrunch reported In July 2013 that Path was negotiating with an Asian private equity group.
According to TechCrunch, Path actually closed that $50 million round but TC also reported today that the series C didn’t close until today. Conflicting reports.
This means Bakrie’s investment may be significant but doesn’t necessarily make it the largest individual outside shareholder and it’s share in the company isn’t as big of a deal as many Indonesians would make it out to be.
Cross posting this to my Tumblr and will include reference links here later. – Read on Path.
AuliaSays 