Reddit, which recently launched Lead Generation Ads for collecting customer information on its platform, has announced its acquisition of Memorable AI a leading ad creative optimization platform. 

According to Reddit, the acquisition aims to enhance its advertising capabilities, particularly “to further advance campaign performance and impact.” This means that advertisers have tools to optimize ad campaigns, ensuring improved performance and a higher return on ad spend.

Reddit believes Memorable AI has an advanced capability to understand how different aspects of ad creative interact with various forms of media to influence their effectiveness.

How Memorable AI will help advertisers on Reddit

Memorable AI is a platform that uses machine learning models to enable advertisers to strategize ad creative based on their branding and conversion goals via an AI-based co-pilot. This means that Memorable AI intends to help advertisers create more effective ad campaigns by acting as an AI-powered assistant that aids strategizing and crafting ad content. 

According to Reddit’s statement, through the 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.”

The technology offers precise estimates of ad impact, including metrics like click-through rates, engagement, and conversion rates. This integration promises to enhance ad creative effectiveness and automation for Reddit’s advertisers.

Reddit's COO, Jen Wong explained that Memorable AI has demonstrated success in improving ad creative to achieve the best outcomes, even before advertisers launch their ads. “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's COO, Jen Wong. 

Also, Memorable AI’s co-founder, Sebastian Acevedo, emphasized the company's commitment to pushing the boundaries of creative intelligence. “We’re excited to take this technology to new heights with Reddit’s impressive customer base,” he stated. 

As part of the announcement, the Memorable AI  team will be working with Reddit to lead and support projects related to Reddit's advertising business. Their role will be crucial as Reddit aims to expand and advance to the next stage of growth. 

Recently, Memorable AI was recognized as one of Gartner's Cool Vendors in Generative AI for Marketing 2024.