Twitter Acquires Password-Sharing Startup Mitro

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.

Mitro, launched in 2012 as a venture of Founder Adam Hilss, offers a web browser extension product that stores and shares cloud service credentials and saves them in your web browser. The company has raised two round of investments, till date viz. USD 1.2 million in Debt Financing and USD 1.2 million in Seed investment. It is backed by two investors as Google Ventures and Matrix Partners.

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On Thursday, Mitro announced the acquisition in a Blog Post:

“We’re excited to announce that the Mitro team is joining Twitter’s location team in New York, focusing on a variety of geo-related projects! As we transition to Twitter, we want to provide you with some updates on our product,” the company wrote in the post.

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.

Twitter has recently introduced new product experiences, launched new web profiles with a number of new advertiser tools, continued the international expansion of its advertising products. The firm has also acquired three companies as Gnip, TapCommerce and SnappyTV.

It 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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Earlier, the company had launched ‘Pay By Tweet’ service with American Express and‘Keyword-Targeting ad feature’. Last year, it had partnered with WPP to increase its advertising revenues and offers text based password recovery service.

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