Overview

• 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.