Path’s social networking app has been acquired by South Korea’s Daum Kakao

Path has sold its five-year-old social networking app today to South Korean mobile company Daum Kakao for an undisclosed sum. The deal will allow Path to grow in Asian markets, where Daum Kakao — makers of the popular Kakao Talk messaging app — have experience in building large user bases. Daum Kakao will look to improve Path’s quality of service and community experiences in Korea and other markets. Nothing changes for existing Path and Path Talk users. The company’s GIF creation app, Kong, isn’t part of the deal and will continue to operate as part of Path Inc. ➤ A New…

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