Reddit signs $60 million content licensing deal with AI company ahead of IPO
On February 20th, it was reported by insiders that Reddit has signed a contract worth approximately $60 million with a large AI company to allow them to use its content to train AI models. This move aims to attract investors with the AI trend and increase the value of its IPO. Reddit's revenue exceeded $800 million last year, with a growth of approximately 20%. Some suggest that Reddit's IPO valuation should be at least $5 billion, and the IPO may start as early as next month.
16 banks including Morgan Stanley and Goldman Sachs are involved in preparing for Reddit's IPO. Details are still under discussion and Reddit has declined to comment. In addition, several AI companies are seeking content licensing agreements for training programs, with OpenAI and Axel SpringerSE reaching an AI training contract worth millions of dollars.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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