RRW | By Jon Mitchell / excerpt
On February 1, at the peak of the frenzy over Facebook’s announcement that it would go public, Path announced a photo effect called Depth. It was a brash display of public relations. Not only was Path upstaging Facebook’s mobile offerings, its new feature meant that it now had Instagram’s exact feature set as well. Today, Facebook’s purchase of Instagram means those features are worth a billion dollars. What does that make Path, the mobile timeline app Facebook wished it had, worth?