- Zoom today announced it has acquired Keybase, a company with experience in encryption. The purchase price was not disclosed.
Zoom today announced it has acquired Keybase, a company with experience in encryption. The purchase price was not disclosed.
Keybase, which has been developing encryption products for many years including protected file sharing and collaboration software, will offer some credibility to Zoom as it goes through pandemic pain in demand.
Over the last couple of months, the company has faced a range of security issues as demand as soared and revealed some product security vulnerabilities. Having a team of security experts on staff will help the company develop a more secure product as the company has worked to fix those problems.
CEO Eric Yuan said they acquired Keybase in a blog post announcing the transaction to give customers a higher level of protection, which is becoming increasingly important to business customers as more operations depend on the platform, working from home during the pandemic.
“This acquisition marks a crucial move for Zoom as we seek to create a truly private video messaging network that can reach hundreds of millions of users, while still providing the flexibility to accommodate the wide range of uses of Zoom,” Yuan wrote.
He added that the tools would be available to all paying clients as soon as they are integrated into the product. “Zoom will give all paying accounts an end to end encrypted meeting mode. Logged-in users can create public cryptographic identities that are stored in a repository on the network of Zoom and that can be used to develop relationships of trust between meeting participants, “he wrote.
We are proud to announce the acquisition of Keybase, another milestone in Zoom’s 90-day plan to further improve the security of our platform for video communication. Since its launch in 2014, Keybase’s team of outstanding engineers has developed a secure messaging and file sharing service that leverages their profound expertise in encryption and security. We are excited to integrate the Keybase team into the Zoom family to help us develop end-to-end encryption that can achieve the current scalability of the Zoom.
The Keybase will become a subsidiary of Zoom and co-founder under the terms of the contract, and Max Krohn will lead the Zoom security development team, reporting directly to Yuan to help develop the safety product. The remaining nearly two dozen staff are to become staff of Zoom. The vast majority of these are health engineers.
This would happen to the goods of Keybase is not clear, but the company said Zoom is working with Keybase to find it out.
Keybase was founded in 2014, and according to Crunchbase data, has raised nearly $11 million.
You can find the blog post here.