Reddit has acquired an 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 enhance their campaign planning and drive higher performance. As it gets integrated into the platform’s ad stack, its 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.
Memorable AI is powered by a 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 an 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.
“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 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 the 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.
Memorable AI Co-Founder, Sebastian Acevedo said, “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. 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.”
Source: Social Samosa
