MeaningCloud’s team has joined Reddit and will support the latter’s ML projects across its product, safety, and ads teams
MeaningCloud Europe snapped up by Reddit. (Credit: Gerd Altmann from Pixabay)
Social media network Reddit has acquired MeaningCloud Europe, a Spain-based natural language processing (NLP) company, for an undisclosed price.
MeaningCloud is said to specialise in extracting meaning from unstructured content such as text analytics, semantic analysis, and insights extraction.
Through the acquisition, Reddit expects to bolster its proficiencies in machine learning (ML) as well as understanding of unstructured data to offer the most relevant information to its users.
MeaningCloud’s team has joined Reddit and will support the social media network’s ML projects across its product, safety, and ads teams.
Reddit data vice president Jack Hanlon said: “MeaningCloud helps strengthen Reddit’s platform by helping our community get the relevant information they are looking for even faster. With the addition of MeaningClound’s technology, we can continue our mission of providing simpler, richer, and more relevant content to our users.
“We are thrilled to welcome the talented MeaningCloud team to Reddit.”
Reddit said that the acquisition also marks its first office in Spain. The company said that the deal underpins its efforts to grow local communities and offer them content that is both engaging and relevant.
The acquisition of MeaningCloud follows Reddit’s purchase of machine-learning platform Spell in June 2022. Spell is a SaaS-based artificial intelligence (AI) platform that equips technology teams to more easily carry out machine learning experiments at scale.
In August 2021, Reddit said that it will raise up to $700m in a Series F financing round at a post-money valuation of over $10bn. The social media network which went online in 2005, allows people around the world to post content, upvote or downvote, and comment in different communities that are organised according to their interests.