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Wednesday, April 17, 2024

Reddit has a brand new AI coaching deal to promote person content material

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Reddit will let “an unnamed massive AI firm” have entry to its user-generated content material platform in a brand new licensing deal, according to Bloomberg yesterday. The deal, “value about $60 million on an annualized foundation,” the outlet writes, might nonetheless change as the corporate’s plans to go public are nonetheless within the works.

Whether or not or not that’s true — in any case, among the finest methods to get round web optimization spam in search outcomes is so as to add the phrase “Reddit” to your search question — Reddit has proven that it’s prepared to play hardball earlier than. Final yr, it successfully stonewalled its approach out of the biggest protest in its history after adjustments to its third-party API access pricing brought on builders of the preferred Reddit apps to close down.

As Bloomberg writes, Reddit’s year-over-year income was up by 20 % by the tip of 2023, but it surely was nonetheless $200 million shy of a $1 billion goal it had set two years prior. The corporate was reportedly suggested to hunt a $5 billion valuation when it opens up for public funding, which is anticipated to happen in March. That’s half the $10–$15 billion it may need achieved the final time it filed to go public in 2021, earlier than a market downturn held it back.

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