Social media giant Reddit has recently announced the acquisition of generative AI startup Memorable AI, marking a further deepening of Reddit's venture into the field of advertising technology. Memorable AI, known for its advanced machine learning technology, aids marketing experts in optimizing advertising content to enhance effectiveness.

Through this acquisition, Reddit aims to provide advertisers with more personalized and efficient advertising solutions. Memorable AI's technology can analyze historical data to offer creative feedback and optimization suggestions to advertisers on key elements such as copywriting, images, and videos. Reddit plans to integrate this technology into its platform, allowing all advertisers to enjoy higher quality advertising creative services.

In a statement, Reddit's Chief Operating Officer Jen Wong said, "The addition of Memorable AI will accelerate our work in optimizing, generating, and filtering advertising creativity, bringing better delivery effects for advertisers." This acquisition not only strengthens Reddit's advertising service capabilities but also demonstrates its determination to highlight its unique value proposition in fierce market competition.

Founded in 2021 and headquartered in New York, Memorable AI's team members will integrate into Reddit's advertising department to jointly promote innovation and development in advertising technology. Although specific financial details have not been disclosed, this acquisition undoubtedly pushes Reddit's advertising business to new heights.

In recent years, Reddit has increased its investment in advertising business and AI tools, establishing cooperative relationships with multiple AI companies and signing data licensing agreements to assist in training AI models. In addition, Reddit has acquired several AI companies, including Spell, MeaningCloud, and Spiketrap, further enriching its technical reserves and providing advertisers with a range of tools from creative generation to audience insights.

Advertising business accounts for 98% of Reddit's revenue, with last year's sales amounting to $804 million. This acquisition is expected to significantly enhance the overall quality of advertising on the Reddit platform, while Reddit will continue to innovate and improve its advertising service capabilities to meet the needs of advertisers and users.

With the integration of Memorable AI's technology, Reddit is gradually building a more powerful and competitive advertising service platform, leading the digital advertising market towards a more efficient and personalized future.