Posted 2/17/2024, 12:45:16 PM
Reddit Inks Multi-Million Dollar AI Deal Ahead of Expected IPO
- Reddit signed a multi-million dollar content licensing deal with an unnamed AI company to train models on Reddit posts and comments
- The deal could serve as a model for future contracts and bring in more revenue to Reddit
- Reddit announced in 2021 it would start charging companies for API access to content
- The API is used by AI companies but also third-party Reddit apps, some of which protested restrictions last year
- The deal could convince investors ahead of Reddit's expected $5 billion IPO as early as next month