Reddit has struck a offer with Google
ByDAVID HAMILTON AP innovation pressreporter
February 22, 2024, 4: 27 PM
SAN FRANCISCO — Reddit has struck a offer with Google that enables the search giant to usage posts from the online conversation website for training its synthetic intelligence designs and to enhance services such as Google Search.
The plan, revealed Thursday and valued at approximately $60 million, will likewise offer Reddit gainaccessto to Google AI designs for enhancing its internal website search and other functions. Reddit decreased to remark or response concerns beyond its composed declaration about the offer.
Separately, the San Francisco-based business revealed prepares for its preliminary public offering Wednesday. In files submitted with the Securities and Exchange Commission, Reddit stated it reported internet earnings of $18.5 million — its veryfirst revenue in 2 years — in the October-December quarter on earnings of $249.8 million. The business stated it intends to list its shares on the New York Stock Exchange under the ticker sign RDDT.
The Google offer is a huge action for Reddit, which relies on volunteer mediators to run its stretching range of freewheeling topic-based conversations. Those mediators have openly opposed earlier Reddit choices, most justrecently blacking out much of the website for days when Reddit revealed prepares to start charging numerous third-party apps for gainaccessto to its material.
The plan with Google doesn’t presage any sort of data-driven modifications to how Reddit functions, according to an specific familiar with the matter. This individual askedfor privacy in order to speak