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Twitter Acquires Startup Magic Pony

Twitter Acquires Startup Magic Pony

Twitter has acquired machine learning start-up Magic Pony in bid to bolster its live streaming and video capabilities. The London based start-up uses neural networks to provide expanded data and thus enhance its video and image quality. The technology used by Magic Pony is seen as the key to countering the common problem of patchy online videos – a result of the fact that many videos are taken using mobile phones and/or in low light.

The terms of the deal has not disclosed but the Financial Times has quoted a source close to the deal that Twitter has paid close to US$150 million for the start-up. Twitter has been seeking to expand its video capabilities as part of its central strategy to transform Twitter into the best live social media in the world despite increasing competition from social media juggernaut Facebook. Twitter acquired Vine, the six second video-looping service in 2012 and live streaming application Periscope in March of last year.

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