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NSA Leaks Usher In Privacy Tech Profits

PRIVACY BUSINESS—U.S.

October 16, 2013

Financial Times reports on the burgeoning privacy-enhancing technology business and the rising profits stemming from Edward Snowden’s surveillance disclosures. Businesses and governments, in addition to journalists, are demanding encryption services for protection. Silent Circle, which offers text and phone encryption services, is used by 16 of the Fortune 50 companies. Silent Circle CEO Mike Janke said, “We were growing 100 percent a year before the NSA/PRISM scandal; now we are growing at 400 percent.” He added, “Ten years ago, if you had encryption on a device, people asked what you are hiding. Now if you’re a businessperson and you don’t have it, people ask if you’re stupid.” Capital is also being invested in the privacy tech industry. All Things D reports that privacy startup Personal, which offers a digital vault service, has raised $4.5 million. According to USA Today, Yahoo will begin default encryption services in January. (Registration may be required to access this story.)
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