The personal journaling social network app, Path, is said to be introducing a premium service later this year. The news comes from founder and CEO of Path, Dave Morin, who recently mentioned news of a premium service while speaking to TechCrunch. According to Morin, turning Path into a “freemium” service is the way to go. He said the following to TechCrunch while talking about Path’s previous path and where he thinks it’s headed:
We started out by selling some photo filters but that's been a small business. Later in the year we're going be rolling out virtual goods and a premium service in the first half of this year. A business model is important, but we want to be in a trust relationship with users. Evernote, Spotify and Dropbox have had great success with fermium models... Yammer and Basecamp have always been subscription models – so it's not that different... The friction for converting users to a freemium service is much lower than it has been in the past... We're seeing big numbers in freemium so we guess it's worth a shot. And mobile is driving this.
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