Twitter Owns London Based Magic Pony Technology for $150 million

Twitter is on the way to acquire London based startup Magic Pony, an owner of the technology for the artificial intelligence. According to the sources, the social media giant has agreed to pay $150 million to an English technology firm.

Magic Pony Technology

Stating the role of machine learning for the social network, Twitter CEO, Jack Dorsey says, “Machine learning is increasingly at the core of everything we build at Twitter. Magic Pony’s machine learning technology will help us build strength into our deep learning teams with world-class talent, so Twitter can continue to be the best place to see what’s happening and why it matters, first. We value deep learning research to help make our world better, and we will keep doing our part to share our work and learning with the community.”

Previous to that, Twitter has acquired Whetlab and Madbits.

Magic Pony’s technology utilizes AI (artificial intelligence) for creating visual effects, which can be used to fix the pixelated images and the creation of the new images. Their technology plays a greater role to improve the video streaming where bandwidth and connectivity are not up to mark.

The role of Magic Pony can be helpful for Twitter which looks to “emphasizing the video” on its site. The social network can use their technique to process the images from low quality to high quality.

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