Reddit goes public: the latest updates on its IPO – The Verge

Reddit’s NFL, NBA deals bring more sports highlights — and ads

2024-07-22T11:03:42-04:00

Reddit has struck deals with major sports leagues, including the NFL, NBA, and the MLB, as the company looks to boost revenue following its move to go public. Through the program, Reddit will show more game highlights, behind-the-scenes videos, and ask-me-anything (AMA) sessions with players.

In exchange, advertisers on Reddit, such as Samsung, Ford, Volkswagen, and FanDuel, can show ads alongside video content posted by the leagues. Reddit will then share the revenue it gets from advertisers with the participating sports leagues, according to The Information. In the example shown below, Reddit shows an ad just before a highlight from a gam …

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OpenAI strikes Reddit deal to train its AI on your posts

2024-05-16T17:34:06-04:00

OpenAI has signed a deal for access to real-time content from Reddit's data API, which means it can surface discussions from the site within ChatGPT and other new products. It's an agreement similar to the one Reddit signed with Google earlier this year that was reportedly worth $60 million.

The deal will also "enable Reddit to bring new AI-powered features to Redditors and mods" and use OpenAI's large language models to build applications. OpenAI has also signed up to become an advertising partner on Reddit.

Redditors have been vocal about how Reddit's executives manage the platform before, and it remains to be seen how they'll react to …

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A lot of Redditors hate the Reddit IPO

2024-02-24T08:00:00-05:00

“Short the shit out of it.” | The Verge

If you are a certain kind of cynical, Reddit's S-1 filing sets off alarm bells. There's the mention of r/WallStreetBets. (Five mentions in total, actually.) There's the stockpile it's amassed of Bitcoin and Ethereum. And there's the program to give certain power users the option of buying stock before it debuts on the public market.

The S-1 is a document filed with the US Securities and Exchange Commission before a company goes public. It discloses all sorts of things: revenue figures, risk factors, key data about the business. And it sends certain signals. In this case: I see some meme stock shit.

I can totally imagine corporate insiders …

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Reddit’s biggest risk factor is Google

2024-02-23T15:40:51-05:00

Reddit CEO Steve Huffman. | Credit: Illustration by William Joel / The Verge | Photo by Greg Doherty/Variety via Getty Images

Happy Friday. Aside from Google's Gemini fiasco and Nvidia's blowout earnings report, the big tech news this week was Reddit detailing plans for its long-awaited IPO. Below, I get into Reddit's biggest risk factor, the company's fascinating relationship with Sam Altman, and more…

The first thing I did upon opening Reddit's IPO paperwork on Thursday was press Command + F on my keyboard and type "Google."

Reddit's reliance on Google is perhaps the single greatest risk factor facing its viability as an independent public company. But you'd be hard-pressed to find management's acknowledgment of this uncomfortable fact in the hundreds of pages …

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Reddit is going public and inviting power users to invest

2024-02-22T15:41:46-05:00

On Thursday, Reddit filed its S-1 registration statement with the SEC detailing its finances and business goals ahead of its imminent initial public offering on the New York Stock Exchange under the symbol RDDT.

In its S-1 document, Reddit said it made $804 million in revenue last year, the vast majority of which came from advertising. However, the company is unprofitable, with a net loss of $90.8 million in 2023.

In an unusual twist, Reddit is also giving an unspecified number of its top users, including moderators and those with high karma scores, the chance to buy shares in its IPO. That's a privilege usually reserved for professional i …

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Google cut a deal with Reddit for AI training data

2024-02-22T13:24:00-05:00

Google is getting AI training data from Reddit as part of a new partnership between the two companies. In an update on Thursday, Reddit announced it will start providing Google "more efficient ways to train models."

The collaboration will give Google access to Reddit's data API, which delivers real-time content from Reddit's platform. This will provide "Google with an efficient and structured way to access the vast corpus of existing content on Reddit," while also allowing the company to display content from Reddit in new ways across its products.

When Reddit CEO Steve Huffman spoke to The Verge last year about Reddit's API changes and the …

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Reddit’s upcoming API changes will make AI companies pony up

2023-04-18T18:52:47-04:00

Reddit announced new API changes today that will eventually pinch its content pipeline from being used to train artificial intelligence tools, including the models that power OpenAI's ChatGPT, Google's Bard, and Microsoft's Bing AI. AI chatbots' abilities to provide powerful answers have data resources like Reddit to thank - and now Reddit is planning to put that robot food behind a paywall.

Social media resources, including Reddit, are some of the sources used to train large language models (LLM) that can provide cogent responses to human prompts. Some of this data can be scraped in an unstructured manner, but Reddit's API has helped compa …

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