Posted 2/17/2024, 1:24:53 AM
Reddit Signs $60M AI Content Deal Ahead of Planned IPO, Setting Precedent for Social Media Licensing to Tech
- Reddit signed a $60 million per year content licensing deal with an unnamed AI company to train its models, ahead of its planned IPO in March
- The deal could be a model for future content licensing agreements with AI companies
- Reddit's IPO would be the first major social media company IPO since Pinterest in 2019
- Reddit was valued at about $10 billion in a 2021 funding round
- The deal comes amid high interest in AI technology