Reddit acquires ad creative optimisation platform, Memorable AI

Delhi: Reddit has announced its acquisition of ad creative optimisation platform, Memorable AI, to further advance campaign performance and impact.

Through this acquisition, Reddit advertisers will have access to Memorable AI’s tools to for their campaign planning and performance. 

Recently named as one of Gartner's Cool Vendors in Generative AI for Marketing 2024, Memorable AI is powered by a large AI foundation model. 

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 optimizing 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 optimizing, 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 acquisition of audience contextualisation company, Spiketrap, and bolsters ongoing investments in machine learning and AI to build Reddit 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 analyze 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.”

As of this announcement, the Memorable AI team has joined Reddit and will support and lead relevant projects across their ads business as they scale toward their next growth phase.