Reddit acquires gen AI firm Memorable AI to enhance advertiser performance

Social platform Reddit is acquiring ad creative optimisation platform Memorable AI to further advance its campaign performance and impact.

Through this acquisition, Reddit advertisers will have access to Memorable AI’s best-in-class tools to enhance their campaign planning and drive higher performance, it said in a statement. 

"As we integrate Memorable into our ad stack, our partners will be able to see performance benefits from creative insights from previous ads, better creative effectiveness, and automation that guides their creative towards maximum performance and return on ad spend," it explained. 

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Memorable AI is powered by an industry-leading, large AI foundation model that allows advertisers to strategise ad creative according to their branding and conversion goals via an AI-based co-pilot.

Trained with machine learning techniques and a broad dataset spanning media metrics and cognitive impact, this foundation model has reached the deepest understanding of the interplay between ad creative and media impact, said Reddit. 

In addition to improving creative guidance and ad generation, the technology provides actionable estimates of the impact of ad creatives across click-through, engagement, and view-through rates, as well as brand lift and conversion rates.

“Memorable AI has a proven track record for optimising ad creative to drive the best possible results before advertisers run a single ad,” said Reddit chief operating officer, Jen Wong. “This acquisition allows Reddit to accelerate our work in optimising, generating, and selecting ad creative to deliver even better results for advertisers. We are thrilled to welcome the Memorable AI team to Reddit.”

The announcement follows Reddit's acquisition of audience contextualisation company, Spiketrap, and bolsters ongoing investments in machine learning and AI to build Reddit's unique products and solutions that help businesses grow.

“For the last three years, our focus has been on building the strongest creative intelligence product on the market. We developed state-of-the-art machine learning models to enable top global advertisers to analyse their creatives as data, predict their impact, and get double-digit improvements with actionable recommendations,” said Memorable AI co-founder, Sebastian Acevedo.

"Today, we’re excited to take this technology to new heights with Reddit’s impressive customer base. This move positions Reddit as the leader in creative effectiveness AI. Reddit’s advertisers, who will now benefit from AI-based creative pretests and actionable recommendations, are the biggest winners of the deal,” added Acevedo.

 Memorable AI will now work with Reddit to support and lead relevant projects across its ads business as it scales toward its next growth phase.

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