Reddit secures a $60M/year deal with Google for AI model training and plans to reserve shares for top users in its IPO.
Reddit has struck a $60 million per year deal with Google to provide its content for AI model training, according to three sources familiar with the matter. The social media platform is also planning to reserve shares for its most active users when it goes public, potentially selling shares to 75,000 of its top contributors at the IPO price. This move aims to build loyalty among its user base and align the company's success with its community, although it could also expose the company to risks if the stock does not perform well after its IPO.
February 21, 2024
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