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Neeva calls it quits:
"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."
@chrismessina @Techmeme not being cynical but did they even try? I feel they’re leaving way early.
@santim depends on their burn rate and how much traction they achieved. If it would take $1T and 300 years to catch up with Google at their current velocity, then they tried but it just wasn't feasible.
@chrismessina @santim yeah, not to mention, the costs of running a search engine are a lot higher than the costs of a typical SaaS app. They’ve got to have a massive infrastructure investment (cloud or their own hardware) to crawl and serve all that data. Plus compute costs of doing any of the LLM stuff. It reads like if they have any chance of remaining in business they’ve got to pivot to doing something in AI but it also reads like that isn’t assured. I think they tried as much as they could.
@chrismessina @santim the other implicit part of the announcement is that they needed to raise (they last raised 2 years ago) and I’m assuming they couldn’t raise money for a subscription search engine in this climate. Maybe they’ll have better luck raising for an AI thing.
@film_girl @chrismessina odd apple didn’t buy them.
@santim @chrismessina I very much doubt they have anything Apple would want.