Reddit Indicators AI Content material Licensing Deal With Google; Stated to Be Price $60 Million a 12 months

0
23
Reddit Signs AI Content Licensing Deal With Google; Said to Be Worth $60 Million a Year

Social media platform Reddit has struck a take care of Google to make its content material accessible for coaching the search engine large’s synthetic intelligence fashions, three individuals conversant in the matter mentioned.

The contract with Alphabet-owned Google is value about $60 million (roughly Rs. 497 crore) per 12 months, in response to one of many sources.

The deal underscores how Reddit, which is getting ready for a high-profile inventory market launch, is looking for to generate new income amid fierce competitors for promoting {dollars} from the likes of TikTok and Meta Platform’s Fb.

The sources weren’t licensed to talk to media and declined to be recognized.

Reddit and Google declined to remark.

Bloomberg beforehand reported Reddit’s content material deal with out naming the client.

Final 12 months, Reddit mentioned it could cost corporations for entry to its utility programming interface (API) – the means by which it distributes its content material. The settlement with Google is its first reported take care of an enormous AI firm.

San Francisco-based Reddit, which has been a inventory float for greater than three years, is getting ready to make its preliminary public providing submitting this week, which might element its financials for the primary time to potential IPO buyers.

The submitting may very well be accessible as early as Thursday, two of the sources mentioned.

The corporate, which was valued at about $10 billion (roughly Rs. 82,897 crore) in a funding spherical in 2021, is looking for to promote about 10 % of its shares within the providing, Reuters has beforehand reported. 

Reddit’s inventory market launch would mark the primary IPO of a significant social media firm since Pinterest floated its shares in 2019.

Makers of AI fashions have been busy clinching offers with content material house owners in latest months, aiming to diversify their coaching information past massive scrapes of the web. That observe is rife with potential copyright points as many content material creators have alleged that their content material was used with out permission.

Based in 2005 by internet developer Steve Huffman and entrepreneur Alexis Ohanian, Reddit is thought for its manifold area of interest dialogue teams, a few of which boast tens of thousands and thousands of members.

© Thomson Reuters 2024


Google I/O 2023 noticed the search large repeatedly inform us that it cares about AI, alongside the launch of its first foldable cellphone and Pixel-branded pill. This 12 months, the corporate goes to supercharge its apps, companies, and Android working system with AI expertise. We talk about this and extra on Orbital, the Devices 360 podcast. Orbital is out there on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate hyperlinks could also be mechanically generated – see our ethics assertion for particulars.

For particulars of the newest launches and information from Samsung, Xiaomi, Realme, OnePlus, Oppo and different corporations on the Cell World Congress in Barcelona, go to our MWC 2024 hub.



Supply hyperlink

LEAVE A REPLY

Please enter your comment!
Please enter your name here