Continuing its acquisition spree, microblogging platform Twitter has bought machine learning startup Whetlab for an undisclosed amount. Twitter will be integrating Whetlab’s technology into its own platform and the team members will be joining the company following the acquisition. Whetlab on its website said that it will be discontinuing its product after July 15.
— Twitter Engineering (@TwitterEng) June 17, 2015
Whetlab says that its patent-pending technology allows companies to speed up implementing machine learning systems for in-house systems off the ground rather than hiring experts to tune artificial intelligence systems. The company also claims that it can reduce training period of machine systems from months or years to just days.
A report by VentureBeat notes that with Whetlab’s technology, Twitter is looking to better organize tweets and is could use it to learn more about its users through how, when, and what they tweet. “From there, Twitter could improve how it fights abuse and spam, re-prioritize new features for users and businesses, tweak how it serves ads, and in general decide how best to use engineering resources,” the report added.
Other Twitter acquisitions
– It is reported that Twitter is in talks to buy news aggregator Flipboard in an all stock deal which values the company at $1 billion. Sources also said the negotiations are headed by Twitter chief financial officer Anthony Noto and that they have been taking place since the beginning of the year.
– In May, Twitter announced that it acquired TellApart, a marketing technology company providing retailers and e-commerce advertisers with cross-device retargeting capabilities through dynamic product ads and email marketing.
– In March, Twitter bought livestreaming app Periscope for an undisclosed amount. Periscope’s features are likely to be directly integrated into Twitter’s timeline, just like Vine videos. Former Twitter CEO in a recent earnings call said that one million people signed up with Periscope within the first 10 days of the application’s launch.
– Earlier this year, Twitter acquired Bangalore-based mobile marketing & analytics platform ZipDial for an undisclosed amount. Post acquisition, ZipDial joined Twitter India and Twitter says it also gets a new engineering office in Bangalore. ZipDial provides a mobile marketing platform through the “missed calls” feature. People can call a particular toll-free number, following which they are automatically disconnected and start receiving inbound content from brands via SMS, voice or an app notification.
Dick Costolo steps down as CEO
Earlier this month following pressure from Wall Street investors, Dick Costolo has stepped down from his role as chief executive officer Twitter after five years and the company’s co-founder and chairman Jack Dorsey will take over as interim CEO. The company will be searching for a new CEO both internally and externally. The search committee will include board members Peter Currie, Peter Fenton and co-founder Evan Williams.