10.4 C
Washington

Reddit has a new AI training deal to sell user content

Date:

Share:


Reddit will let “an unnamed large AI company” have access to its user-generated content platform in a new licensing deal, according to Bloomberg yesterday. The deal, “worth about $60 million on an annualized basis,” the outlet writes, could still change as the company’s plans to go public are still in the works.

Whether or not that’s true — after all, one of the best ways to get around SEO spam in search results is to add the word “Reddit” to your search query — Reddit has shown that it’s willing to play hardball before. Last year, it successfully stonewalled its way out of the biggest protest in its history after changes to its third-party API access pricing caused developers of the most popular Reddit apps to shut down.

As Bloomberg writes, Reddit’s year-over-year revenue was up by 20 percent by the end of 2023, but it was still $200 million shy of a $1 billion target it had set two years prior. The company was reportedly advised to seek a $5 billion valuation when it opens up for public investment, which is expected to happen in March. That’s half the $10–$15 billion it might have achieved the last time it filed to go public in 2021, before a market downturn held it back.



Source link

Subscribe to our magazine

━ more like this

The new quiet luxury is burgers and fries: Over 60% of Americans are buying less fast food because it’s just too expensive, survey finds

Move over, Hermes and Miu Miu—the newest luxury purse flying under the radar is a crinkled paper bag filled with burgers and greasy...

Bluesky now lets you send DMs

Bluesky will now let you send a direct message to other users. For now, you can only send messages containing text, but Bluesky...

America’s landfills are ‘garbage lasagnas’

America’s landfills—and the environmental havoc they create—are sizable. There are roughly 1,200 landfills currently in operation and on average, each one takes up...

You can get rid of AI Overviews in Google Search

If you’ve searched for something on Google lately, you might’ve noticed a wall of text that appears before the actual search results. This...

Weed beats booze as daily marijuana use outpaces drinking in definitive nationwide study of tens of millions of people

Millions of people in the U.S. report using marijuana daily or nearly every day, according to an analysis of national survey data, and those...