Former search engine Neeva was acquired by information cloud platform firm Snowflake, hinting at future integration of the Neeva AI search know-how into their merchandise.
Neeva was based by two former Google executives with a imaginative and prescient to create a search engine that didn’t present adverts or promote consumer information.
Their path to monetization was primarily based on the concept shoppers who valued their privateness would subscribe to a search engine that supplied a greater consumer expertise.
Their preliminary option to construct a client search engine was a considerably me-too transfer in a troublesome market the place even an enormous competitor like Microsoft had bother prying customers away from the behavior of Googling for solutions.
However Neeva attracted investments by prime Silicon Valley companies like Sequoia Capital, an early investor in corporations resembling Google, Apple and Snowflake.
The Neeva crew pivoted to creating an AI enhanced search engine and unveiled it in early 2023. However it was shortly overshadowed by Microsoft’s integration of AI.
After just a few months it apparently turned evident that AI wasn’t sufficient to realize extra customers and a path to monetization so on Might 20, 2023 they selected to shut the search engine and discover tips on how to leverage their AI experience within the enterprise sector.
“Over the previous yr, we’ve seen the clear, urgent want to make use of LLMs successfully, inexpensively, safely, and responsibly.
Lots of the methods we now have pioneered with small fashions, measurement discount, latency discount, and cheap deployment are the weather that enterprises actually need, and wish, at present.
We’re actively exploring how we will apply our search and LLM experience in these settings, and we are going to present updates on the way forward for our work and our crew within the subsequent few weeks.”
Snowflake Acquires Neeva
It didn’t take lengthy to search out that new path as 4 days in a while Might 24, 2023 Snowflake introduced they had been buying Neeva.
Snowflake, an enterprise information cloud firm that intends to leverage the Neeva search and conversational AI know-how into their product choices.
The acquisition announcement said:
“Search is key to how companies work together with information, and the search expertise is evolving quickly with new conversational paradigms rising in the best way we ask questions and retrieve data, enabled by generative AI.
The flexibility for groups to find exactly the best information level, information asset, or information perception is essential to maximizing the worth of information.
That’s why Snowflake is buying Neeva, a search firm based to make search much more clever at scale.
Neeva created a novel and transformative search expertise that leverages generative AI and different improvements to permit customers to question and uncover information in new methods.”
Snowflake was not particular about new companies they’ll supply however combining AI and LLM capabilities with information is a pure match that will allow corporations to leverage their information in new methods.
Learn the official announcement by Snowflake:
Snowflake acquires Neeva to speed up search within the Knowledge Cloud by generative AI
Featured picture by Shutterstock/Poetra.RH
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