Reddit on February 22 said it had struck a $60 billion deal with Google, allowing the tech giant to use posts from the online discussion platform to train its artificial intelligence (AI) models and improve services like Google Search, according to an AP report.
As part of the deal, Reddit is gaining access to Google AI models to improve its internal site search and other features, it added.
Reddit did not respond to questions.
In a separate statement, the San Francisco-based company announced plans for its initial public offering (IPO). The company aims to list its shares on the New York Stock Exchange under the ticker symbol RDDT.
It also reported net income of $18.5 million in the October-December quarter on February 21, marking its first profit in two years. Reddit’s revenue for the same period stood at $249.8 million.
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Published: 23 Feb 2024, 06:28 IST