Reddit Acquires AI Adtech Startup Memorable AI

The acquisition aims to enhance Reddit's advertising capabilities through advanced generative AI technology.

Reddit's first acquisition since its March IPO targets ad optimization using AI.
Memorable AI's technology predicts the effectiveness of ad creatives to boost performance.
The financial terms of the deal were not disclosed, but sources estimate it at around $40 million.
Memorable AI's team will join Reddit's advertising division to integrate the new tools.
Reddit continues to invest in AI, following partnerships with OpenAI and other tech firms.