Salesforce.com, Inc. (NYSE:CRM) Acquires MinHash for an Undisclosed Amount
Salesforce.com, Inc. (NYSE:CRM) is acquiring MinHash, a provider of marketing intelligence, for an undisclosed amount. MinHash mines data from multiple online sources before analyzing it to unearth useful trends for marketers. The startup boasts data specialists with vast experience having previously worked for companies such as Oracle Corporation (NYSE:ORCL) and eBay Inc (NASDAQ:EBAY).
Salesforce.com, Inc. (NYSE:CRM) doesn’t disclose much about the intention of acquiring MinHash. However, the technology that the startup holds leaves no doubt about why Salesforce considers it an important asset to bring under its armpit. It is not currently clear whether MinHash’s staff will cross over to Salesforce, but that would be one of the important harvests for Salesforce. The fact that the MinHash team has some of the best technologists and data experts make sense for Salesforce as it plots its next phase of growth.
The acquisition appears to be predicted on the technology that MinHash holds more than anything else, Salesforce still has plenty to benefit from even without including the startup’s employees.
MinHash uses artificial intelligence to analyze data to reveal trends that marketers can use to make their online campaigns more effective. The startup has what it calls AILA, which is a virtual assistant tool that looks into various digital data forms such as images, text and hashtags to quickly show popular trends that marketers can plug into to reach potential customers when they are most receptive for their ads.
Salesforce’s industry-focused strategy
MinHash’sAILA is currently supporting analysis of trends in the fashion industry, but Salesforce.com, Inc. (NYSE:CRM) can tweak its algorithm to enable it capture more industries. Salesforce primary business is helping clients generate leads that can result in sales. The company has in the recent times appeared to take more industry-specific approach in its sales solutions. As such, MinHash’s technology is likely to benefit its new strategy.
It remains unclear what Salesforce.com, Inc. (NYSE:CRM) is paying for MinHash, but the startup’s website says it will ebd its independent life in January 2016.
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