Photo-sharing app Path sells to Korean internet firm


Fortune

The long-troubled photo-based social network Path has finally found an end to its story: Daum Kakao, a Korean Internet company, will buy it.

Path’s founder and CEO Dave Morin announced the news on Thursday evening via a blog post while much of the tech industry was still distracted by Google’s developer conference happening this week in San Francisco.

Morin didn’t disclose terms of the deal, except that Daum Kakao is acquiring its flagship social network, Path, and Path Talk, a separate app that lets users chat with local businesses as well as with other users. Kong, a mobile app for taking and sharing selfie photos that the company recently released, will remain under the ownership of Path, the company.

Under Daum Kakao’s ownership, “nearly everything you have come to love about Path and Path Talk will remain as is,” Morin writes, adding that the new owners will continue to update…

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