The American social news aggregator Reddit moves into Spain by purchasing a Natural Language Processing company to deal with its unstructured content. Reddit plans to strengthen its ML proficiencies as it acquires MeaningCloud.
Reddit is a news aggregator, content rating, and discussion portal where users can post content to the site and start discussions. It has been a part of Conde Nast Publications since 2003 and is currently the ninth-most-visited website in the world. Reddit is trying to expand into Europe, which has a vast potential market, after experiencing great success in English-speaking regions like North America and the UK. Access to this office in Spain via MeaningCloud will grow communities inside the EU.
MeaningCloud was established in 2015 and focuses on deriving meaning from unstructured content, including web content and social media chats. Reddit claims that its technology will improve its machine learning capabilities and comprehension of unstructured data so that it can give Reddit users pertinent information.
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Jack Hanlon, the VP of data at Reddit, said, “MeaningCloud helps strengthen Reddit’s platform by helping our community get the relevant information they are looking for even faster.”
The announcement of this acquisition aligns with Reddit’s recent purchase of Spell, a machine learning platform founded by former Facebook engineer Serkan Piantino. The platform provides a cloud computing solution to run resource-intensive ML algorithms with high-end hardware.
MeaningCloud’s acquisition is another step forward in Reddit’s strategic investment in AI. The latter uses ML for personalized recommendations in its ‘Discover Tab.’ The company also uses it for targeted advertising.