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Reddit Partners With OpenAI In New Data Licensing Deal
https://www.whatjobs.com/news/usa/us-business-news/reddit-partners-with-openai-in-new-data-licensing-deal
By Nithya Bose in Business News, posted May 18, 2024
Reddit has signed a deal with OpenAI, granting the artificial intelligence startup access to its data.
This follows similar agreements with Google and public relations software firm Cision.
The San Francisco-based company announced the deal will integrate its content with OpenAI’s ChatGPT chatbot and new products.
OpenAI will also become a Reddit advertising partner.
Users and moderators will benefit from new AI-powered features.
Following the announcement, Reddit's shares rose 11 percent in after-hours trading.
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The financial terms of the deal were not disclosed.
Data licensing is a new revenue stream for Reddit, which primarily earns from advertising.
Founded in 2005, Reddit isn’t profitable.
The company went public in March, reporting 82.7 million daily active users.
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