Reddit Trumpets Revenue Source Besides Ads: Lucrative AI Deals
The social media company said it inked more than $203 million in licensing agreements in January.
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Artificial intelligence will become an important part of Reddit Inc.’s business, the company said Thursday in its long-awaited filing for an initial public offering — tapping into a revenue stream that could be both lucrative and controversial.
San Francisco-based Reddit, a platform that hosts conversations on thousands of different topics, makes most of its money by selling ads that appear alongside social content. In its filing, the 19-year-old company outlined another line of additional business: selling that content to companies building ChatGPT-like chatbots.