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Reddit Signs Licensing Deal With AI Company, Reports

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Reddit Signs Licensing Deal With AI Company, Reports

(CTN News) – Reported that Reddit and an artificial intelligence (AI) company have signed a contract that will allow the AI company to train its models on Reddit’s content, citing people with knowledge of the deal.

It is reported that Reddit, which is preparing to launch its initial public offering (IPO), has told prospective investors that it has signed a deal worth $60 million on an annualized basis, earlier this year, which the company is planning to go public.

While talks over IPO launch, which is expected to happen in March, continue, it’s possible that details of the AI deal will change over time.

This is a time when there is a lot of interest in artificial intelligence and machine learning as a whole, and content licensing deals like this are happening at an unprecedented scale.

The Reddit team declined to provide a comment in response to our request for information.

According to a report published by the newspaper , the agreement could serve as a model for other similar agreements to be signed in the future, since it was signed with a large company that has not been named.

Despite its long development, the IPO of Reddit has languished in the works for more than three years. When it goes public, Reddit would mark the first IPO of a major social media company since Pinterest (PINS.N) went public a year ago and the first IPO of a major social media platform since LinkedIn (LNKD).

In 2021, there was a funding round in which the San Francisco-based company was valued at approximately $10 billion as part of its funding round.

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