To boost the effectiveness and relevance of Reddit Inc.'s advertising, the company acquired Spiketrap, a business that applies artificial intelligence to contextualize audience comprehension.
Spiketrap employs artificial intelligence to provide insights into audience metrics through contextual monitoring of ongoing conversations. Reddit will improve prediction models for auto bidding and leverage its technologies to target adverts better using ad quality scoring.
In 2016, Kieran Seán Fitzpatrick, Virgilio Pigliucci, and Andrea Vattani founded Spiketrap to employ machine learning; to enable audience intelligence and media performance for creators and companies. To extract operational insights from unstructured datasets in real-time, it uses proprietary AI called Clair AI.
The contextual analysis offers more profound insights than may be obtained from simply quantitative reports of the quantity of engagements or link clicks. For instance, using metrics like audience sentiment, impact ratio, and conversation trends, the data collected from a campaign by Clair AI can provide an advertiser with a little more insight about not just how but why people are talking about a campaign.
This is essential since it can be challenging to track how people interact with material using simple statistics based on what people click, see, or vote for. People use emojis, emotions, broken phrases, memes, inside jokes, and other unstructured language when conversing. Spiketrap asserts that Clair AI has been designed to keep track of this, despite all of this being readily misinterpreted or discounted.
The acquisition continues Reddit's purchasing of AI-powered businesses like MeaningCloud and Spell earlier this year. The MeaningCloud platform is a natural language processing platform that enables developers to create apps that can extract meaning from written content, such as text on Reddit's forums. Spell's platform enables technology teams to build and execute large-scale machine learning algorithm experiments.
To assist its AI-powered ad-driven projects across its business, Reddit will hire a team of more than 20 individuals from Spiketrap.
What does Spiketrap do?
Spiketrap, a 2016 startup headquartered in California, provides specialized audience analytics and media solutions to businesses in the media and gaming sectors.
First, the company provides audience analytics, social media insights, competition intelligence, and effective assessment to marketers using artificial intelligence (AI) to extract usable signals from many unstructured facts. According to the corporation, it provides audience context and clarity that is unmatched, especially in fast-paced online situations. The media tools work as the follow-up offering, allowing businesses to take action based on the clarity and context to increase engagement.
Although Spiketrap has not disclosed the identities of the clients it has served, the business claims to have noticed a large demand in its target industries.
Reddit is an online community where people may post links, make content, and participate in discussions about topics that interest them.
Users can upload links to online content, and other users can then vote those links up or down, affecting how prominently they appear on the site's front page. The website has discussion forums where visitors can debate the links and support or oppose other users' opinions. When a remark has enough negative votes, it will not be published by default but readers can choose to see it by clicking a link or setting a preference.
Users that contribute articles that other users "vote up" gain "karma" or points as compensation for their efforts to create engaging content.
The postings on the website are divided into categories, including random, technology, games, sports, entertainment, photos, music, funny movies, literature, history, food, philosophy, jokes, television, and more. Additionally, Reddit has several topical sections called subreddits that concentrate on particular subjects like programming, physics, and politics.
Alexis Ohanian and Steve Huffman founded Reddit in 2005, headquartered in San Francisco, California.