Reddit IPO no guarantee of success
After a long run-up, Reddit's IPO is imminent. Remarkably, Reddit users themselves can also participate in the IPO. In March, CEO Steve Huffman will announce an initial public offering.
Reddit has 76 million daily users, known as Redditors. However, the social media platform withdrew its free AP... Read more
Google pays $60 million annually for content on Reddit through AI deal
Update, 22/02, 08:30 am, Laura Herijgers: Google would train its LLMs with Reddit content. Therefore, Google is said to be the AI company behind the $60 million content deal. Three people familiar with the case told Reuters. The parties involved declined to comment.
Original, 19/02, 2:08 p... Read more
Reddit goes for IPO in March
Reddit is considering a listing on the New York Stock Exchange in March.
The IPO comes after years of consideration. According to Reuters sources, social media platform Reddit has developed extensive plans for an IPO in late March this year. The intention to go public will likely be announced in... Read more
Reddit takes API war to generative AI platforms
Community platform Reddit and several U.S. news organizations are going to fight generative AI platforms and search engines over the "scraping" of their content.
Reddit and several U.S. news sites are now tying up with generative AI tools and search engines and demand compensation. Meanwhile, ab... Read more
Reddit risks losing its identity in pursuit of profits
Reddit isn't profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform's API behind a giant paywall and denounced the attitude of third-party developers and Reddit's own moderators. What does the future of "the front page of th... Read more
BlackCat ransomware gang threatens to leak 80 GB of Reddit data
The ransomware gang ALPHV, better known as BlackCat, has threatened Reddit with the leaking of 80 GB of confidential data. They demand that the popular community site pays $4.5 million (€4.1 million) and rolls back its recently increased API fees.
The ransomware criminals captured the 80 GB of... Read more
Mass protest against Reddit’s API policy may be in vain
Online forum Reddit touts itself as the "front page of the Internet" and because its API has been freely available, it has a rich selection of third-party apps. However, this is about to change: as of July 1, it would cost millions to maintain another popular alternative to the official Reddit appl... Read more
Reddit announces exemption to controversial API pricing
The move offers relief to developers of accessibility apps. It is a significant development for developers concerned about the financial burden of expensive fees and the users who rely on these apps to browse Reddit.
If the apps are noncommercial and address accessibility needs, they will be exe... Read more
Reddit wants AI companies to pay for API
Access to the Reddit API will no longer be free for commercial use. The company wants developers of generative AI to pay a fee if they wish to make use of user data.
The online forum Reddit is known for discussing virtually every topic, organized in one of its so-called subreddits. The website h... Read more
Reddit hit by data breach after phishing attack
Reddit was recently hit by a phishing attack in which employee login credentials were obtained. As a result, cybercriminals managed to get their hands on internal documents containing employee data and parts of the news and community platform's source code.
According to Reddit, it was discovered... Read more