Salesforce has acquired a young start-up called MinHash, which might just prove to be a huge move in the long run.
MinHash is a Palo Alto-based start-up founded by two data science engineers formerly with eBay and Avaya. The company was working on AI for marketers, to help them spot new trends online and craft marketing campaigns based on the data gathered.
The company also created its virtual personal assistant called AILA.
The news of the acuisition was first reported by Tech Crunch (opens in new tab), which added that the financial details of the agreement were not disclosed.
Even though MinHash was a young start-up which had not raised more than a seed round, it was already working with five of the world’s largest online retailers to help them with marketing projects.
A note on MinHash’s home page (opens in new tab) confirming the sale notes that customers will not be able to use the platform after January 21, 2016.
This is Salesforce's fourth acquisition of the year, Business Insider (opens in new tab) added, and the second in the machine learning/data analytics space. In May, it bought a small calendar scheduling app called Tempo AI. The company also launched a new analytics platform called Wave last year, and a new IoT data collecting and analytics service, the IoT Cloud.
“We’re excited to share the news that the MinHash team is joining Salesforce,” the note on MinHash’s site says. “At Salesforce, we will continue to pursue our passion for search, data science and machine learning on a much broader scale.”