Twitter (TWTR) Stock Rises on Magic Pony Acquisition

NEW YORK (TheStreet) — Twitter (TWTR) stock is up 1.68% to $16.37 in mid-morning trading on Monday after the social media company acquired Magic Pony Technology, a machine learning developer for visual processing. The financial terms were not disclosed by the companies, but sources told TechCrunch that Twitter paid about $150 million for the London-based company. “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,” CEO Jack Dorsey said in a blog post. Magic Pony will join the Twitter Cortex team, which consists of engineers, machine learning researchers and data scientist. (Twitter is held in Jim…

Link to Full Article: Twitter (TWTR) Stock Rises on Magic Pony Acquisition

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