Buyout offer: $100 million from Google
What happened: Started by former Facebook employee, Dave Morin, Path allows people to create mini social networks comprised of only 50 friends. It's goal is to let its users share their lives with their closest of friends and family. For that reason, it's still very small, but its users are very active with 20% of its user base using the service daily. When Path's execs met with venture capitalist firm Kleiner Perkins and Index Ventures, Google decided to decided to attack, offering$100 million with a $25 million earnout. The company turned down the offer and decided to take a round of private investments instead, raising $8.5 million.