In a strategic move to enhance advertising capabilities, social platform Reddit has announced the acquisition of ad creative optimization platform Memorable AI. The acquisition aims to elevate campaign performance and impact for Reddit advertisers through advanced tools, as stated by the company.
By integrating Memorable AI into its advertising stack, Reddit intends to provide partners with tools that offer performance benefits derived from creative insights from previous ads, enhanced creative effectiveness, and automation that guides creative strategies towards optimal performance and return on ad spend.
Memorable AI, known for its industry-leading AI foundation model, empowers advertisers to tailor ad creative based on branding and conversion goals through AI-driven assistance. The foundation model, trained using machine learning techniques and an extensive dataset encompassing media metrics and cognitive impact, promises a comprehensive understanding of the dynamics between ad creative and media impact.
Apart from enhancing creative guidance and ad generation, the technology delivers estimations of the impact of ad creatives across crucial metrics such as click-through rates, engagement, view-through rates, brand lift, and conversion rates.
Jen Wong, Reddit’s Chief Operating Officer, expressed enthusiasm about the acquisition, highlighting the potential for Reddit to optimize, generate, and select ad creative more effectively to deliver superior results for advertisers. The move underscores Reddit’s commitment to leveraging machine learning and AI investments to develop unique products and solutions for business growth.
Sebastian Acevedo, co-founder of Memorable AI, emphasized the company’s focus on building cutting-edge creative intelligence products over the past three years. He noted that the technology, now in partnership with Reddit, positions the platform as a leader in AI-driven creative effectiveness, benefiting advertisers with AI-based creative pretests and actionable recommendations.
By joining forces with Reddit, Memorable AI will play a pivotal role in supporting and leading relevant projects within Reddit’s advertising business as it progresses towards its next growth phase.
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