Reddit signs content licensing deal with AI company ahead of IPO, Bloomberg reports - eviltoast
Reddit, which is eyeing an initial public offering (IPO) launch, has told prospective investors that it signed the deal, worth $60 million on an annualized basis, earlier this year, the report said. The details of the AI deal could change as talks over the Reddit IPO launch, which could come in March, continue. Reddit declined to comment.
  • MrJameGumb@lemmy.world
    7·
    9 months ago

    Yet another great reason to never use Reddit again! From what the article says it sounds like they are going to get paid big time to hand over everyone’s unique posts and content to an AI company for them to use however they want without paying the users one cent…

    • paulcdb@sh.itjust.worksEnglish
      1·
      9 months ago

      Except its not free. This is the lie no-one seems to understand.

      Every product you buy has a % set aside for marketing. No company is sitting there thinking “oh look, free money just fell from the sky. Lets advertise so more people can have free stuff” or “oh, profits are up, lets put all those profits into advertising so people get even more free stuff”

      But people don’t see seem to understand that no-one in advertising has an unlimited hole of cash they dip into to pay to advertise on sites so they can browse the site for free, you pay for reddit, etc every time you buy products!