Reddit IPO draws major interest, targets $6.5 billion valuation
Reddit is on the path to public trading, aiming for a valuation of $6.5 billion. Reuters reports that the social media platform’s initial public offering (IPO) has attracted considerable attention, becoming oversubscribed by four to five times. This level of interest from investors underscores the anticipation surrounding Reddit’s transition to a publicly traded company. Despite […]
Reddit Faces FTC Inquiry Over AI Data Sharing
In recent developments, Reddit has found itself under the spotlight as the Federal Trade Commission (FTC) has initiated an inquiry into its practices concerning the sale, licensing, or sharing of user-generated content for the training of artificial intelligence (AI) models. This move by the FTC underscores the increasing scrutiny tech platforms face regarding their handling […]
AI Training Methods Evolve Amid Controversies
Artificial intelligence (AI) is a rapidly evolving field where the impressive powers of AI models are frequently highlighted. On the other hand, the race to improve AI training techniques is a more subtle but no less important conflict going on behind the scenes. Companies like Reddit and Apple are making great progress in this area […]
Reddit’s IPO strategy reveals major Bitcoin holdings
In a recent filing with the U.S. Securities and Exchange Commission (SEC), popular social media platform Reddit disclosed its significant investments in Bitcoin (BTC) and Ethereum (ETH) as part of its treasury strategy. The disclosure comes as Reddit prepares for its highly anticipated initial public offering (IPO), intending to list its Class A common stock […]
Reddit allocates excess cash to Bitcoin and Ethereum
Reddit, the colossal name in social media circles, has been quietly funneling its extra dough into Bitcoin and Ethereum, eyeing the crypto industry’s “significant potential.” Yeah, you heard that right. Reddit’s betting on the crypto train, but don’t get too excited— We hear that they’re calling the cash they’ve thrown in “immaterial.” They’ve been dabbling […]
Reddit Inks $60 Million Deal with Google to Boost AI Training Efforts
Reddit and Google have partnered in a big move that combines social media content with advancements in artificial intelligence. This agreement, valued at approximately $60 million annually, allows the tech behemoth to utilize Reddit’s vast array of user-generated content to train its AI models. The collaboration marks a pivotal moment for Reddit as it gears […]
Reddit May Sell User Content for $60 Million to Unknown AI Firm
Explore the latest on Reddit’s strategic $60 million partnership with a leading AI firm.
Reddit ends blockchain-based Community Points program amid regulatory challenges
Reddit has discontinued its Community Points program, a blockchain-based rewards system. The move comes as the platform shifts its focus towards more scalable incentives for its users. Tim Rathschmidt, Reddit’s director of consumer and product communications, confirmed that the scaling demands and regulatory environment have made it increasingly impractical to continue the program. Launched in […]
Reddit NFT collection approaches 10 million amid spiraling growth
Reddit is on the cusp of boasting about 10 million holders of its unique, collectible avatars – a staggering figure that has skyrocketed nearly a year after the launch of Reddit Non-Fungible Tokens (NFTs). This achievement, however, is not without controversy and calls into question the larger role of such digital collectibles within the expanding […]
Reddit goes big with Gen 3 NFT avatar contracts on Polygon
Social news aggregation and discussion website, Reddit, has launched its third generation of blockchain-based digital collectibles, called “Reddit Avatars,” on the Polygon blockchain. Reddit’s plans The release follows the successful deployment of the first and second generations of these collectibles, generating thousands of dollars in sales for artists. The latest version of these avatars, which […]
Thank You, Elon Musk and Reddit, for the Uptober
If there is one man that thinks bigger than the rest of the world, that would be Elon Musk. He is always ahead of his time, whether in space shipping, the stock market, cryptocurrencies, or social media influencing. Recently, he has been in the news regarding his plan to buy Twitter. The news has moved […]