Merger and Acquisition

Snowflake Acquires Search Startup Neeva to Enhance Data Value with AI

• ByStartupStory     |    May 26, 2023

Snowflake, a leading cloud data warehousing company based in the US, made an important announcement on Thursday regarding its acquisition of Neeva, a search startup co-founded by two ex-Google employees. This strategic move aims to leverage generative artificial intelligence (AI) and optimize the value of data.

Benoit Dageville, the cofounder of Snowflake and currently the president of its product division, said in a blog post that while the “search experience is evolving with new conversational paradigms, it is important for teams to discover the right data points to maximise its value”.

“That’s why Snowflake is acquiring Neeva, a search company founded to make search even more intelligent at scale. Neeva created a unique and transformative search experience that leverages generative AI and other innovations to allow users to query and discover data in new ways,” wrote Dageville.He said that Neeva’s ability to leverage generative AI in search was one of the things that drew Snowflake to the search startup.

“We plan to infuse and leverage these innovations across the Data Cloud to the benefit of our customers, partners, and developers. Neeva allows us to tap into some of the most cutting-edge search technologies available to bring search and conversation in Snowflake to a new level,” Dageville added.

In a recent development, Neeva, the search startup, has announced the shutdown of its search engine due to challenges in acquiring new users.

“These headwinds, combined with the different economic environment, have made it clear that there is no longer a path towards creating a sustainable business in consumer search. As a result, over the next few weeks, we will be shutting down neeva.com and our consumer search product, and shifting to a new area of focus,” the company said in a blog post.

 

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