Twitterfeed is a tool that automatically publishes RSS feeds to social networks with a title and shortened Bit.ly link. Using the service, you can set your blog up to post to your Twitter account, or your Twitter RSS to publish to your LinkedIn page.
While some Twitterfeed functionality might pop up in Bit.ly at some point, it's not the technology that Bit.ly is after.
"Let's face it, posting updates to Twitter is not rocket science," Bit.ly CEO Peter Stern says.
More valuable is Twitterfeed's userbase and its creator, Mario Menti. Twitterfeed has more than 1 million unique users and posts more than 5 million updates every month (granted, those are automatic). Bit.ly could take the opportunity to make its analytics features more apparent to that userbase -- and upsell them to its premium data tools in the meantime.
For now, though, neither Bit.ly nor Twitterfeed users are likely to notice the change in ownership.