Over the last two years, we’ve incorporated machine learning and generative AI technologies into our advertising capabilities to drive more compelling experiences for our users, and augment results for our clients. We’re pleased to announce we’ve acquired ad creative optimization platform, Memorable AI, to further advance 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. 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.
Recently named as one of Gartner’s Cool Vendors in Generative AI for Marketing 2024, Memorable AI is powered by an industry-leading, large AI foundation model that allows advertisers to strategize ad creative according to their branding and conversion goals via an AI-based co-pilot. Trained with state-of-the-art 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. 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.
The announcement follows acquisition of audience contextualization company, Spiketrap, and bolsters ongoing investments in machine learning and AI to build Reddit unique products and solutions that help businesses grow.
As of this announcement, the Memorable AI team has joined Reddit and will support and lead relevant projects across our ads business as we scale toward our next growth phase.
SOURCE: Reddit