What happened
In August 2024, Reddit announced its acquisition of Memorable AI, a generative-AI startup that helped marketers create and optimize advertising creative — its first acquisition since going public on the NYSE in March 2024. Co-founded by Camilo Fosco and Sebastian Acevedo, Memorable AI built technology that analyzed how people react to visual content, allowing it to predict and improve how ads would perform on metrics like click-through, brand lift, and conversion.
Reddit said it would fold Memorable AI's technology into its advertising stack, giving advertisers access to creative insights drawn from past Reddit ads plus automation tools that recommend higher-performing assets and forecast results before campaigns run. The deal reinforced Reddit's central strategic priority as a newly public company: scaling and differentiating its advertising business, which generates the bulk of its revenue. By acquiring generative-AI creative tooling rather than building it from scratch, Reddit signaled both its appetite for AI-driven ad products and its willingness to resume the M&A pace it had shown in 2022, this time with the resources of a public company behind it.