Sotheby's acquires Thread Genius to build its image recognition and recommendation tech – TechCrunch

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Every company today is a tech company, a maxim that was proven out today when one of the world's oldest and biggest art auction houses acquired an AI startup. Sotheby's has bought Thread Genius, which has built a set of algorithms that can both instantly identify objects and then recommend images of similar objects to the viewer. Sotheby's' said it is not disclosing the value of the deal but said it was non-material to the company. Thread Genius was a relatively young company, founded in 2015 and making a debut last year as part of TechStars New York's Winter 2017 cohort. Co-founders Andrew Shum and Ahmad Qamar, who were also Thread Genius's only two employees, were both engineering alums from Spotify.