We're hearing the actual funding amount is about $20 million. This may be what Morin will announce at PandoDaily's event tonight.
Redpoint Ventures also invested in Posterous, a blogging platform that could be considered competitive to Path. Satish Dharmaraj, a Redpoint partner, was on its board of directors and has been personally invested in Posterous since 2008.
Posterous was acquired by Twitter last week. Before that, investing in Path may have been a conflict of interest for Redpoint.
It may not be a coincidence that both deals were completed in the same 7-day span.
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