Twitter Acquires Mitro, Focuses On Geo-Related Projects

Capping off another busy week for Twitter, the micro-broadcasting giant just acquired security software startup Mitro. Financial terms of the deal were not disclosed.

Best known for a Web browser extension that lets people store and share passwords, Mitro’s small team will join Twitter’s location team in New York where it will focus on a variety of “geo-related projects,” the startup said in a blog post.

Twitter declined to discuss its plans for Mitro on Thursday, but location-based initiatives have long been an area of interest for the company.

Last year, for example, Twitter was reportedly preparing to let retail brands show promoted tweets to consumers who open mobile apps within close proximity to their stores.

Like Facebook and other rivals, Twitter is never far from an acquisition of some sort.

Earlier this week, Twitter bought Madbits -- a “deep learning” startup that boasts the ability to “understand” the content of an image, whether or not there are tags associated with that image.

The company also recently scooped up several companies, including Namo Media and TapCommerce, to improve its mobile advertising efforts.

Twitter has plenty of money to invest in new technology and talent. Earlier this week, it said second-quarter revenue rose 124% to $312 million, which easily beat Wall Street’s expectations.

 

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