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Reddit & Google's $60M Deal: Boosting AI with User-Generated Content | IPO Plans Revealed

Reddit strikes a US$60 million deal with Google, allowing the tech giant to train its AI models using Reddit posts. The partnership grants Reddit access to Google's AI models to improve its internal site search and other features.Reddit reports its first profit in two years and plans to go public with an IPO.

In a groundbreaking move, Reddit has announced a US$60 million deal with Google that will allow the tech giant to utilise posts from the popular online discussion platform to train its artificial intelligence (AI) models. The partnership aims to enhance services like Google Search by leveraging the vast amount of user-generated content on Reddit.


The agreement, unveiled on Thursday, also grants Reddit access to Google's AI models, enabling the platform to improve its internal site search and other features. While Reddit has chosen not to provide further details or comments on the deal, this collaboration marks a significant milestone for the company.


In a separate announcement, Reddit revealed its plans for an initial public offering (IPO). According to documents filed with the Securities and Exchange Commission, the San Francisco-based company reported a net income of US$18.5 million in the October-December quarter, marking its first profit in two years. With revenue reaching US$249.8 million, Reddit aims to list its shares on the New York Stock Exchange under the ticker symbol RDDT.


For Reddit, the partnership with Google represents a major step forward. Unlike other social media platforms that rely on algorithmic processes to curate content, Reddit's unique approach allows users to search for specific discussion forums and actively engage in conversations. The collaboration with Google is not expected to alter this user-driven experience.


An anonymous source familiar with the matter clarified that the agreement ensures Google's compliance with Reddit's user terms and privacy policy. Unlike some social media platforms, Reddit fully deletes users' posts and content when they choose to delete them, leaving no trace behind. Google and other partners are required to adhere to the same standards to respect users' choices.


The data-sharing arrangement holds significant value for Google as well. The tech giant seeks access to human-generated content to train its AI models and enhance their understanding of the world. By leveraging Reddit's vast repository of authentic conversations and experiences, Google aims to provide more relevant answers to users' queries in a conversational format.


In a news release, Google praised Reddit as a valuable source of authentic human interactions and expressed its commitment to making it easier for people to benefit from the platform's wealth of information. While Google downplayed its interest in using Reddit data to train its AI systems, it emphasised its focus on improving user access to Reddit information through its own products.

 
  • Reddit strikes a US$60 million deal with Google, allowing the tech giant to train its AI models using Reddit posts.

  • The partnership grants Reddit access to Google's AI models to improve its internal site search and other features.

  • Reddit reports its first profit in two years and plans to go public with an IPO.


Source: AP NEWS


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