Apple On The Cusp Of Acquiring Path [Rumor]

A few years ago, Apple tried their hand at social media through the Ping app, but ultimately decided to shut its doors in 2012, but could Apple be thinking about giving social media yet another run? Well according to a report from PandoDaily (via AppleInsider), the answer is yes and that Apple’s attempts will come in the form of the acquisition of Path.

The report claims that both Apple and Path have almost come to a conclusion with their deal and that it is more or less confirmed. In fact Path’s co-founder was spotted in the audience yesterday during Apple’s presentation and was seated at the front row, a spot usually saved for high-ranking executives and special guests.

PandoDaily goes on to note that Apple has plans to keep Path intact post-acquisition, which seems to be a different MO from Apple’s usual practices, which tends to involve purchasing a company just for its talent or technology. However this isn’t the first time Apple has strayed from their MO as they have kept Beats intact upon its acquisition.

Pricing of the company was not mentioned, although Path recently managed to nab about $400 million in funding, so perhaps that should give us a general idea of what it could be worth to Apple. It is unclear as to how the acquisition of Path will fit into Apple’s overall plan, but it will be interesting to see how it plays out. Until we hear an official confirmation, do take it with a grain of salt for now.

Tyler Lee
Categories: Apple, Cellphones, Rumors
Tags: Apps, path