Reddit acquired Memorable AI in August in a deal that valued the startup at just under $40 million, including performance-based earnouts. Memorable AI uses AI models to predict which images and videos will catch users' attention and encourage them to engage with an ad. Acevedo, a Memorable AI cofounder who had been the startup's CEO, now leads product for Reddit's new ads media intelligence team, which combines data on creative performance with the company's advertising AI models. Memorable AI's clients have included Unilever, Mars, and L'Oréal. Fosco, a fellow cofounder who had been Memorable AI's chief technology officer, leads engineering in the ads intelligence team. He holds a doctorate in computer science from MIT, with his research covering computer vision and cognitive science. "The acquisition of Memorable AI, coupled with its focus on creative effectiveness, now gives Reddit the missing piece to continue improving performance for our advertisers," Fosco said. "I believe this is just the beginning."
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