Magic Pony snapped up by Twitter

Magic Pony snapped up by Twitter

London artificial intelligence startup Magic Pony Technology has been acquired by Twitter in a deal reportedly worth around US$150m.

Launched in 2014, Magic Pony Technology is a research-led technology company developing state-of-the-art machine-learning based approaches for visual processing on web, desktop and mobile.

Twitter’s acquisition of Magic Pony builds on other investments the firm has made in machine learning, beginning with the acquisitions of Madbits in July 2014 and Whetlab in June 2015.

Magic Pony’s team will be joining Twitter Cortex, a team of engineers, data scientists, and machine learning researchers dedicated to building a product in which people can easily find new experiences to share and participate in.

“Magic Pony’s technology – based on research by the team to create algorithms that can understand the features of imagery – will be used to enhance our strength in live and video and opens up a whole lot of exciting creative possibilities for Twitter,” said Twitter CEO and co-founder Jack Dorsey.

In a statement on the company’s website, MagicPony said: “We've been developing state-of-the-art machine learning based approaches for visual processing on web, desktop and mobile over the past 18 months, filing over 20 international patents and publishing at top conferences along the way.

“Today we're excited to announce that we're joining forces with Twitter to use our technology to improve the visual experiences that are delivered across their apps.

“Together with Twitter, we're looking forward to vastly accelerating our rate of research; growing our team, which will serve as the European homebase for Twitter's machine learning efforts; and continuing to publish.

“We've barely scratched the surface of what we think is possible in this area and are excited to see what the future holds.”

 

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