Reddit has acquired audience contextualisation company Spiketrap to bulk up its ad relevance and performance through contextual targeting and engagement prediction.
Spiketrap’s team has joined Reddit in the continuing development of its advertising product strategy and will support and spearhead a number of projects across Reddit’s ad business. The new stablemate will, said Reddit, enhance its interest and contextual targeting capability, with improvements in quality scoring and prediction models.
“Our goal has always been to contextualise language at scale and in realtime to help creators, brands, and platforms genuinely understand and meaningfully engage their audiences,” said Kieran Fitzpatrick, CEO and Co-Founder of Spiketrap. "We're looking forward to scaling these efforts even further as part of Reddit."
The acquisition of Spiketrap is the latest in a string of buys for Reddit, which snapped up machine learning platform Spell in June and Meaningcloud, a natural language processing company, in July to mark Reddit’s first office in Spain.
Shariq RIzvi, Reddit EVP of Ads Monetization said: “The richness of conversation within our 100,000+ active communities is what makes Reddit so unique and so valuable for advertisers. 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.”