Facebook has acquired the team behind Caffeinated Mind, a small San Francisco-based startup focused on rapid in-browser file transfer and big data transfer.
The Caffeinated Mind team is joining Facebook to help the social network develop better tools for sharing information internally. Additional details of the arrangement were not disclosed.
“We see an opportunity to go and continue the work that we’ve begun over at Facebook,” Caffeinated Mind co-founder John Egan told VentureBeat. Egan added that he feels the team can still have an important impact on the world while at Facebook.
Caffeinated Mind got its start though the Y Combinator accelerator program. In March of last year, the company launched with an in-browser file transfer service called Sendoid. More recently, Caffeinated Mind attempted to tackle the gigantic enterprise problem of big data transfer with a tool called Expresso.
The three-person team will cease operations of its two products, effective almost immediately. The Sendoid web application will be shut down on March 7 and the desktop application will stop working on March 14. The corporate pilot of Expresso will also be shuttered within the next two weeks.
Facebook has not acquired the technology behind Caffeinated Mind’s products, and the social network will not be venturing into the file-sharing business by way of the team acquisition, a Facebook spokesperson told VentureBeat.
Photo credit: javaturtle/Flickr
How startups are scaling communication: The pandemic is making startups take a close look at ramping up their communication solutions. Learn how