June 21, 2016 Comments Off on Twitter acquires Magic Pony
On its latest effort to turnaround its declining revenue, Twitter announced that it has acquired Magic Pony Technology, a London-based technology startup that can automatically sharpen low-resolution images and videos. According to Twitter, the acquisition is another step to build its machine learning capabilities, which started with the acquisitions of Madbits in 2014 and Whetlab in 2015. Magic Pony’s technology allows users to post clearer photos and videos on the Twitter platform and can also be applied to Periscope for clearer broadcasts. The acquisition was said to be worth $150 million and investors seem to be pleased with the deal as Twitter shares were up 2.2% in late afternoon trading on the New York Stock Exchange.
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