Venture capitalists bet on former Facebook exec Dave Morin’s social networking service Path

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Path, the social networking site that bills itself as a ‘personal network,’ has raised $8.65 million in venture capital funding, the San Francisco company said Tuesday.

The brainchild of former Facebook executive Dave Morin, Napster co-founder Shawn Fanning and Dustin Mierau, Path has drafted some high-profile backers including venture capital firm Kleiner Perkins Caufield & Byers, which is making big investments in social networking. Kleiner’s Chi-Hua Chien and Index Ventures’ Mike Volpi are joining Path’s board of directors, as is Mierau.

Path lets you interact only with close friends and relatives, limiting your connections to 50 people. The company says that more than 2 million photos and videos have been shared on Path through the iPhone and iPod Touch. It is working on an Android app.

And, in a move that will open up the service beyond the iPhone and iPod Touch, it has also made it possible for users to e-mail photos and videos to their contacts.

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-- Jessica Guynn