Snowflake’s Strategic Acquisition of Neeva Pays Off

Last year, Snowflake acquired Neeva, which turned out to be one of its best decisions. Sridhar Ramaswamy founded Neeva, an ad-free, privacy-focused search engine, alongside another ex-Google executive, Vivek Raghunathan, in 2020. At the time of its last funding round in 2021, Neeva was valued at about $250 million. Fast forward to the present, Snowflake is a household name for enterprises. The company recently introduced a slew of open-source models, including Arctic LLM, designed for enterprises that want to use large language models (LLMs) to create conversational SQL data copilots, code copilots, and RAG chatbots. Credit for this goes to Sridhar Ramaswamy, who, earlier this year, became Snowflake’s new CEO. Since assuming the position, the company has transformed from a data cloud company to a data and AI-driven entity with a strong emphasis on generative AI. "I think it's a huge opportunity in the world of data applications and AI. It will keep me busy for many years