Reddit Inks $60 Million AI Deal with Eye on $5 Billion IPO
- Reddit signed a $60 million per year AI content licensing deal ahead of its IPO
- The deal allows an unnamed AI company to train models on Reddit content
- Reddit's revenue grew 20% in 2022 to over $800 million
- Reddit is advised to seek a valuation of at least $5 billion in its upcoming IPO
- The IPO could launch as soon as next month, led by Morgan Stanley and Goldman Sachs