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October 19, 2020
Twitter acquires Madbits

Twitter Acquires Madbits, Gets More Users, Remains Unprofitable

Twitter acquires MadbitsSan Francisco, CaliforniaTwitter has acquired Madbits, an image search firm which employs deep learning technology. “Over this past year, we’ve built visual intelligence technology that automatically understands, organizes and extracts relevant information from raw media. Understanding the content of an image, whether or not there are tags associated with that image, is a complex challenge,” the start-up announced on its website.

The microblog is increasingly including image-related features for its users. In March, the 140-character messaging platform debuted an image tagging option which is able to link photos to user handles without taking-up any of the allowable character count. In addition, the social site introduced an option to include up to four images in one tweet.

One online wiki entry states that the image search firm, Madbits, uses Torch7, which is a complex scientific computing framework. It has an immense support for machine learning algorithms, and incorporates a scripting language known as LuaJIT, along with an underlying C implementation. This technology filters out noise from images and can also be used to assign labels to untagged photos. The coding is available on the software delevopment site, Github.

Twitter Acquires Madbits and Gains Users, but Remains Unprofitable

Though Twitter is adding to its list of new technologies by purchasing start-ups and established companies, it continues to struggle in its earnings. However, the site might be able to capitalize on the current mobile trend now underway.

To spite its changes in key leadership positions, the social media platform isn’t attracting new investors. The reason is likely due to its small market share in social media advertising, remaining far behind Facebook. Likewise, the company has struggled to retain users in recent years, though it has the largest media presence of all the social networks. Television, cable, and radio news casts routinely refer to the microblog and rely on it for breaking news.

The microblog has yet to turn a profit, as the most recent earnings report posted a loss of $144.6 million, though the social site continues to increase its book of business and is still hiring scores of software engineers.

Savannah Marie

Savannah Marie loves writing and all things social media. She writes on a variety of topics, from social media to health and wellness to travel and all points in between! She is the lead writer and creator of Mixios and blogs with style and a one of a kind voice.

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