Path Apparently Doesn't Make Much Money

Colleen Taylor, writing for TechCrunch:

In fact, Morin said, in the first 24 hours after the 3.0 launch, Path made more money than it had in its entire lifetime as a company, total (starting with its 2.0 version, Path has collected affiliate revenue from media sales generated in the app.)

Without precise numbers, Path's statement doesn't mean anything. Of course, Path wants you to think that its 3.0 launch has been an astounding success from a revenue perspective. However, without a statement of how much money they have made previously, it's not possible to confidently make such an assessment. An alternative interpretation (which Path would obviously not like) is that Path has been, to date, an astounding failure from a revenue perspective.

It's maddening when the media lets companies make nonsense statements like this without further clarification. Amazon is notorious for making this type of announcement (e.g. when the iPad Mini launched), and it's time that the media did its job instead of just being a platform for corporate press releases.