“Given the novel nature of those applied sciences and industrial preparations, we’re not shocked that the FTC has expressed curiosity on this space. We don’t consider that we now have engaged in any unfair or misleading commerce apply,” in accordance with Reddit.
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The corporate stated it had obtained the letter from the FTC on March 14.
In February, Reuters reported social media platform Reddit struck a take care of Alphabet’s Google to make its content material obtainable for coaching the search engine large’s AI fashions.
The contract with Google is value about $60 million per 12 months and showcases how Reddit is in search of to generate new income amid fierce competitors for promoting {dollars} from the likes of TikTok and Meta Platform’s Fb.
Earlier this week, Reddit stated it was aiming for a valuation of as much as $6.4 billion in its U.S. preliminary public providing because it nears one of the crucial anticipated inventory market debuts of the previous few years.
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