From the linked website:
"© 2007-2015 Bitly, Inc" - was this a subsidiary of bitly from jump, or an acquihire?
Mario continued to work mostly independently on Twitterfeed for many years, maybe up until now.
Legend has it that one of the motivations for the acquisition was to help with a work visa situation for another employee from the UK, Mike Dewar. He was a graduate student in NYC who did an internship (or similar) at Bitly, but had to move back to the UK when he finished/discontinued his studies. So they had Twitterfeed hire him, then acquired Twitterfeed, then he was able to move back to the US office. Just hear-say from long ago, I don't recall any details :)