Twitter has acquired New-York based password-sharing startup Mitro for an undisclosed amount. Post this acquisition, Mitro team is joining Twitter’s location team in New York, focusing on a variety of geo-related projects.
Founded in 2012 by Adam Hilss, Mitro has raised a total of $2.4 million in funding,$1.2 million in Debt Financing and $1.2 million in Seed investment. It is backed by two investors as Google Ventures and Matrix Partners. Mitro saves all your passwords, synchronizes them across all your devices, and lets you share them with others. It has extensions for Chrome, Firefox, and Safari, mobile apps for iOS and Android, and a server to perform the synchronization.
Mitro announced acquisition in a blog post on Thursday
The statement added “As of today, we are releasing all of Mitro’s server and client code under the GPL license on Github. We’ve been working hard to build a secure, easy-to-use password manager for individuals and groups. We’ve made great progress and we believe that the community can help us accomplish even more“
However, financial details are not disclosed as a Twitter representative declined to comment. The firm is showing few signs of acquisition streak, as recently they acquired four companies as as Gnip, TapCommerce, SnappyTV and Madbits( an image search company). Twitter is expected to planned revenue of USD 1,310 million to USD 1,330 million along with total expenditures in the range of USD 330 million to USD 390 million for the full year of 2014.
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