Reddit Acquires Generative AI Startup Memorable AI

Reddit Inc. is acquiring Memorable AI, a startup that uses generative artificial intelligence to help marketers create better ads, in its first acquisition since going public in March.

Memorable AI has built technology to help advertisers find the most effective text, images and videos to use in their sponsored messages, and Reddit hopes the acquisition will improve the quality of ads on its service.

“This acquisition allows Reddit to accelerate our work in optimizing, generating, and selecting ad creative to deliver even better results for advertisers,” Reddit Chief Operating Officer Jen Wong said in a statement.

New York-based Memorable AI ...