“We will then host discussion sections with civil society, cryptographic experts, and customers to share more details and solicit feedback. Keybase also offers an encrypted chat and cloud storage system, called Keybase Chat and the Keybase filesystem respectively.
The company also plans to publish its encryption designs on May 22, and ask for feedback from other experts. Keybase is a key directory that maps social media identities to encryption keys (including, but not limited to PGP keys) in a publicly auditable manner. Yuan said the company plans to offer an end-to-end encrypted meeting mode to all paid participants. On April 22, the company released a new version of the app with a higher level of encryption. Zoom has made it a goal to build end-to-end encryption into its video conferecing product after coming under fire in April for falsely marketing their calls as already having that layer of security. Keybase’s experienced team will be a critical part of this mission. Our goal is to provide the most privacy possible for every use case, while also balancing the needs of our users and our commitment to preventing harmful behavior on our platform. Additionally, leaders from Zoom and Keybase will work together to figure out what the future looks like for Keybase’s product. They will proactively identify, address, and enhance the security and privacy capabilities of its platform, Zoom said in a press release.
Keybase engineers will join Zoom’s security engineering unit. The acquisition is part of Zoom’s 90-day plan to shore up its privacy and security announced in early April, after the company faced a cavalcacde of privacy and security issues amid its huge surge in usage due to the coronavirus pandemic. Terms of the deal were not disclosed.Keybase’s last valuation was $42.6 million after raising a $10.8 million funding round led by Andreessen Horowitz in 2015, according to Pitchbook. Keybase cofounder Max Krohn will now lead Zoom’s security engineering team and report directly to Zoom CEO Eric Yuan. Keybase, a secure messaging and file sharing service with 25 employees, as the video communications company tries to improve the privacy and security of its platform.
#Keybase stock software#
Zoom was founded by Eric Yuan in 2011 however, the software was launched in 2013.Zoom acquires Keybase, to improve the privacy and security of its platform. Keybase is a social networking service and a directory which offers an end-to-end encrypted chat and cloud storage system, known as Keybase Chat and Keybase Filesystem. The stock has more than doubled since the year started. At first, it claimed the service met high-security standards before correcting to say the platform has a lower level of encryption.Ĭurrently, Zoom’s shares have risen more than 6% to $158.76 at noon in New York. The video conferencing app now attracts 300 million users daily. Businesses have been closed thus heads of organizations turned to the app to meet with their partners and workers. The video app gained popularity during the corona-virus pandemic, where most countries are under lock-down, halting all activities. This made some companies and organizations proscribe Zoom for their meetings. Users of the video platform experienced uninvited guests who intrude video meetings especially with the popular “Zoombonbing”. Our team is passionate about security and privacy, and it is an honor to be able to bring our encryption expertise to a platform used by hundreds of millions of participants a day”.Īside from that, Zoom is adding features such as passwords and waiting rooms to prevent cybercrooks from accessing users’ meetings. Speaking on the issue, Co-founder and developer of Keybase.io, Max Krohn said, “Keybase is thrilled to join Team Zoom. Keybase has the highest standard of encryption which allows only a sender and recipient to see the information being exchanged. The company in a statement said the procurement will push Zoom’s goal to become the most popular video conferencing tool with end-to-end encryption.Īs a secure messaging platform Keybase’s engineers will help Zoom to develop end-to-end encryption. This follows several complaints from users about the security of the platform. Data & News supplied by Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Zoom has acquired Keybase Inc to reinforce its service encryption.
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