Reddit has acquired ad creative optimisation platform, Memorable AI, in a move the social network has said is aimed at enhancing campaign performance and impact for its advertisers,
The acquisition will see Memorable AI’s tools integrated into Reddit’s ad stack, providing performance benefits from creative insights, improved creative effectiveness, and automation for maximum performance and return on ad spend.
“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.”
Memorable AI, recently named as one of Gartner’s Cool Vendors in Generative AI for Marketing 2024, provides estimates of the impact of ad creatives across click-through, engagement, and view-through rates, as well as brand lift and conversion rates. This acquisition follows Reddit’s previous purchase of audience contextualisation company, Spiketrap.
“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.”
The Memorable AI team has joined Reddit and will support and lead relevant projects across Reddit’s ads business.
