Reddit announced on Thursday (February 22) that it did cooperation with Google to let search engine train their artificial intelligence models with user-generated content. The partnership is reported to be: a The deal is worth $60 million per yearreported Reuters on Thursday (February 21) – this is a move that may give Reddit a financial boost as it prepares to go public.
A social news aggregation platform and online forum – which is reportedly ready to go public in March — he told potential investors signed the contract with a “gigantic artificial intelligence company” earlier this year, but did not disclose who the deal was with, Bloomberg reported. The agreement also comes amid concerns about how artificial intelligence companies will exploit and profit from user-generated content; while platforms may strike eight-figure deals with AI creators, the users who created that content receive no profits. Neither Reddit nor Google commented on the reported transaction to Quartz before publication.
Selling content to machines
Last April, Reddit said this would start changing the company that utilize his data to train the AI, returning “none of these values”. Reddit CEO Steve Huffman said unauthorized utilize of the platform’s content is “something we have a problem with.” Reddit announced changes to its API, putting its data behind a paywall, and stated that “third parties that require additional capabilities, higher usage limits, and broader usage rights” will have to comply with the changes. Website the volunteer moderators protested made the decision at the time, saying the decision would target smaller developers whose tools they utilize to monitor the Reddit community.
Apparently it was created on Reddit over $800 million in revenue last year, representing a 20% raise over 2022 revenues. He was also reportedly advised to seek a valuation of at least $5 billion for the IPO. In September 2021, Reuters reported that Reddit was looking for investment bankers and lawyers advise the company on its IPO.
The platform’s deal with Google is the latest in a series of data licensing agreements between AI companies seeking content to train AI models with published content and these content providers. In December, ChatGPT developer OpenAI struck a deal with the German publisher Axel Springer SE for tens of millions of euros to utilize news articles from its sites, including Politico and Business Insider, to train its artificial intelligence models. OpenAI too reached an agreement with the Associated Press to utilize your news archive in July.