Twitter is on a buying spree. After buying a New York-based startup called Madbits last week, the microblogging site has acquired another startup based in the same city. This time, it is Mitro, a password security firm.
In a recent blog post, Mitro announced the acquisition by Twitter, but refused to disclose the financial details of the transaction. But it mentioned that its team would soon be joining Twitter’s own team in New York. It also mentioned about focusing on different geo-related projects.
With the agreement, Mitro would continuously operate as is indefinitely in the future. But it would also open source its own data. It will release all server and client codes on Github. It would also work to transition to a community-run and sustainable project with Electronic Friontier Foundation.
Startup Mitro and its business
Mitro is a password manager for all Web browsers. It can record usernames as well as passwords as users log into new online sites. It also facilitates automatic logging into websites that a use has visited before. Moreover, it also facilitates secure storage of many other secrets like the information on the driver’s license or even safe combinations. It even allows safer sharing of passwords.
In its statement, the startup said it has been working harder to create a secure and easy-to-use password manager for both individuals and groups. It said that so far, it has made great progress. It relies on the community to continuously help it accomplish more.
Madbits, another acquisition
As mentioned, this acquisition follows the transaction wherein Twitter bought Madbits, an image search company. Madbits is known for building a visual intelligence technology, which automatically organizes, understands, and extracts important data from images.
In a statement, Madbits announced that it was acquired by Twitter. It emphasized as well that understanding content of an image is a complicated challenge. It revealed that it has prototyped as well as tested 10 various applications that can be launched publicly soon. At the same time, Madbits assured that its technology would be brought to Twitter, its new owner.