Published By : 20 Jun 2016 | Published By : QYRESEARCH
In an effort to improve the delivery of videos and photos across its apps, Twitter has decided to acquire London-based Magic Pony Technology that offers expanded data for images with the help of machine learning and neural networks. Neural networks refer to systems that are designed to think alike human brains. While the terms of the deal have not been yet disclosed, according to inside sources, Twitter is paying about US$150 mn for this acquisition. Magic Pony Technology is a small firm, co-founded by Rob Bishop and Zehan Wang. According to Jack Dorsey, the CEO and co-founder of Twitter, the machine learning technology is crucial for Twitter as it is at the core of the various apps build by the company.
Acquiring Magic Pony will help Twitter to Improve Delivery of Photos & Videos
Since 2014, this is the third machine learning start up firm that Twitter has acquired. Last year, the company acquired Whetlab and had acquired Madbits in 2014. Though Magic Pony Technology is a small start up firm, the company has shown potential and had raised an undisclosed amount of funding from investors such as Entrepreneur First, Octopus Ventures, and Balderton. The machine learning technology developed by the company helps to enhance visuals with information that might not be present in the picture itself but can be recreated from composites of similar pictures.
Magic Pony Technology has been has never been too famous with its website offering a simple statement about what it does and the number of patents filed by the company. There are about 20 patents now which will now be Twitter’s. Magic Pony’s technology in the field of image processing has a significant scope in Twitter’s business. As sometimes mobile handsets produce less than perfect media, it leads to poor experience for audience who post on Twitter through mobile devices. Hence, Twitter is expected to use the machine learning technology to enhance its images and videos.