Reddit acquires contextual analysis firm

Reddit said in a statement that the acquisition would help improve the relevance of advertising on the Reddit platform, as well as performance through upleveled targeting, quality scoring and engagement prediction.

The statement added that Spiketrap’s team will join Reddit and will work on a number of projects across the company.

The acquisition follows recent deals for Spell and MeaningCloud to join Reddit as part of improvements to the platform’s algorithms and recommendation engines.

Spiketrap focuses on artificial intelligence-powered contextual analysis and tools, with a focus at Reddit on interest and contextual targeting capability, improving advertising quality scoring and prediction models for powering auto-bidding.

Shariq Rizvi, executive vice-president of ads monetisation at Reddit, said: “We believe targeting relevant audiences based on interests and with the context of the conversations they are engaging in helps ensure advertisers are reaching the right people in the most efficient ways.

“We have been actively investing in solutions to this end for some time and this acquisition will round out Reddit’s capability, taking it to the next level. I am thrilled to welcome the Spiketrap team to the Reddit family.”