Reddit has signed a content licensing arrangement with an AI company ahead of its IPO

Reddit has signed a contract with an artificial intelligence (AI) startup to train models on the social media platform’s content.

Reddit has struck a contract with an artificial intelligence (AI) startup to train its models on the social media platform’s content.

According to the source, Reddit, which is preparing to conduct an initial public offering (IPO), informed prospective investors that it signed the arrangement early this year for $60 million on an annual basis.

The parameters of the AI partnership may change as discussions about the Reddit IPO, which could take place in March, continue.

The content licensing agreement comes at a time when AI is experiencing unprecedented popularity.

According to a source, the agreement with an “unnamed large AI company” could serve as a blueprint for such contracts in the future.

Reddit’s IPO, which has been in the works for more than three years, would be the first by a major social media business since Pinterest’s (PINS.N) launch in 2019.

The San Francisco-based startup was valued at around $10 billion in a 2021 financing round.

Also read: As a technology leader, I cultivated the knack of understanding one step above the others so that I can handle them, says Dr. Chandran Raghuraman, CTO at Bahwan Cybertek

Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.