For all ‘wire’ fans:
Cutting the Wire
It has recently come to the attention of the PrivacyTools team that Wire, the popular end-to-end encryption messaging platform had been sold or moved to a US company. After a week of questioning, Wire finally confirmed they had changed holding companies and would now be a US based company in a move they called “simple and pragmatic,” as they worked to expand their foothold in the enterprise market. This also came alongside the news that Wire had accepted more than $8 million in Venture Capital (VC) funding from Morpheus Ventures, as well as other investors.
Morpheus Ventures holds a portfolio including companies in healthcare, voice AI, life insurance, and retail customer data analytics: All sectors that have historically used invasive data collection methods to survive. Why would a VC with a portfolio centered on consumer data want to invest in a company whose mission claims to protect that very same information?
Earlier this year, Wire announced they had entered a partnership with FedResults, in a move that would bring Wire’s secure messaging platform to US federal agencies. This raised a few eyebrows, but did not alarm the privacy community as Wire remained Swiss based and beholden to Switzerland’s strict privacy laws. Today however, while much of Wire’s business will continue to be run out of their Swiss offices, with new US-based ownership it is not entirely clear how much jurisdiction the United States will have over Wire data.
This is alarming because it is well known that Wire stores unencrypted metadata for every user.
#privacytools #delisting #wire #FedResults #messenger #swiss #thinkabout