Neeva will shut down June 2. The ad-free search engine launched lower than two years in the past.
Neeva’s failure was as a consequence of its lack of ability to draw sufficient customers, the rise of generative AI and LLMs and the present financial surroundings, in accordance with the corporate’s founders, Sridhar Ramaswamy and Vivek Raghunathan.
Sridhar Ramaswamy assertion. Ramaswamy tweeted the next:
“This was a very tough decision that took into account lots of things: our business progress so far, the current funding environment and our ability to continue to grow quickly in this vastly changed search environment. We are incredibly proud of what we have accomplished: building a search engine from scratch with a tiny team of fifty people and releasing the world’s first LLM powered answer engine that produced reliable citations.”
Why we care. Neeva’s search market share was tiny, but it surely provided a substitute for Google, which is all the time a great factor. Unfortunately, as has been the case with most Google alternate options – together with Microsoft’s Bing – it’s almost unimaginable to get individuals to interrupt freed from their Google behavior.
History of Neeva. The search engine was based in 2019, but it surely wouldn’t be till June 2020 we first reported on the brand new search engine. Neeva can be 100% freed from promoting and subscription-supported. Neeva additionally stated it wouldn’t monitor customers, with personalization being accomplished with out knowledge mining.
Ramaswamy believed the standard and usefulness of Google’s search outcomes had been compromised by the deal with advert income. Their mission was to “take search back to its users.”
Neeva launched within the U.S. in June 2021, charging customers $4.95 a month. In an try and increase its person base in 2022, Neeva started providing a free fundamental subscription.
In January of this 12 months, the corporate introduced NeevaAI, a generative AI search product that answered queries with summaries and citations – beating each Microsoft’s New Bing launch (introduced Feb. 7) and Google’s Search Generative Experience (nonetheless hasn’t launched publicly).
Read the announcement. Next Steps for Neeva.