Reddit has acquired Memorable AI, a creative intelligence platform, to enhance its advertising capabilities. Over the past two years, Reddit has integrated machine learning and generative AI into its advertising, aiming to create more engaging user experiences and improve client results. The acquisition will provide Reddit advertisers with Memorable AI’s advanced tools for better campaign planning and performance.
Benefits of Memorable AI Integration
- Enhanced Campaign Planning: Advertisers can leverage Memorable AI’s insights from previous ads to improve creative effectiveness.
- Automation: The platform guides creative efforts towards maximum performance and return on ad spend.
- AI-Based Co-Pilot: Memorable AI uses a large AI foundation model to help advertisers strategize ad creative based on branding and conversion goals.
- Performance Metrics: The technology offers actionable estimates for click-through, engagement, view-through rates, brand lift, and conversion rates.
Industry Recognition
Memorable AI was recently named one of Gartner's Cool Vendors in Generative AI for Marketing 2024. Its machine learning models and extensive dataset provide a deep understanding of the relationship between ad creative and media impact.
Statements from Leadership
- Jen Wong, Reddit COO: Highlighted Memorable AI’s proven track record in optimizing ad creative and expressed excitement about the acquisition’s potential to enhance Reddit’s ad performance.
- Sebastian Acevedo, Memorable AI Co-Founder: Emphasized the platform’s ability to deliver double-digit improvements in ad performance and expressed enthusiasm about joining Reddit to further develop the technology.
Strategic Context
This acquisition follows Reddit’s purchase of Spiketrap, a company specializing in audience contextualization, and underscores Reddit’s commitment to investing in machine learning and AI. The Memorable AI team will now be part of Reddit, contributing to relevant projects as the company scales its ad business.
Overall, the acquisition positions Reddit as a leader in creative effectiveness AI, promising significant benefits for its advertisers through advanced AI-based creative pretests and actionable recommendations.
