Adrian J Cotterill, Editor-in-Chief
Generative AI startup Memorable AI, who spoke at our ADAi Miami Conference back in April has been acquired by Reddit.
Memorable AI has built technology to help advertisers find the most effective text, images and videos to use in their sponsored messages, and Reddit hopes the acquisition will improve the quality of ads on its service.
“This acquisition allows Reddit to accelerate our work in optimizing, generating, and selecting ad creative to deliver even better results for advertisers,” Reddit Chief Operating Officer Jen Wong said in a statement.
New York-based Memorable AI was only founded in 2021, and uses #AI to help marketers predict how often an ad will lead to a direct action, such as downloading an app or visiting a website. The Memorable AI employees will join Reddit’s advertising team. Reddit did not disclose financial terms of the deal.
This is Reddit’s first since going public in March.
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