After music with SoundCloud, Twitter continues to invest. This time, the microblogging site decided to strengthen its position in machine learning with the acquisition of Magic Pony Technology. This operation is not the first of its kind since the social network has already acquired Madbits in July 2014 and Whetlab in June 2015 to progress in this sector. However, Twitter declined to disclose the financial details of this new transaction.
Founded in 2014 by Rob Bishop and Zehan Wang, Magic Pony Technology has developed algorithms to obtain predictive analysis from data for visual processing. The London-based start-up team is barely made up of a dozen people, specialists in machine learning and computational neuroscience. It will join Twitter Cortex, a team of engineers, data scientists and machine learning researchers serving the social network.
The blue bird takes height on the video
With this new investment, Twitter wants “improve your strength in live and video, and open up a number of interesting creative possibilities“, Explained Jack Dorsey, co-founder and CEO of the microblogging site, in a statement. One way to position itself in the live video market, particularly occupied by Facebook and Snapchat.
The acquisition of Magic Pony Technology is part of Twitter’s investment logic, mainly focused on live-streams, via its subsidiary Periscope, and conversation. This announcement follows the strategy of relaunching the social network initiated since the return of Jack Dorsey at the head of Twitter last July. In 2015, the microblogging site had lost $ 521 million.