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• Reddit Discloses FTC Probe into AI Data Licensing Ahead of IPO The social media platform's $60 million deal with Google draws regulatory scrutiny as it orepares to go public.
• Social media giant Reddit has revealed that it is under investigation by the Federal Trade Commission (FTC) over its data licensing practices for artificial intelligence training. The disclosure comes as the company prepares for its long-awaited initial public offering.
• The disclosure appeared in an amended S-1 registration statement filed with the Securities and Exchange Commission yesterday, submitted the day after the FTC inquiry was received. "On March 14, 2024, we received a letter from the FTC advising us that the FTC's staff is conducting a non-public inquiry focused on our sale, licensing, or sharing of u...
• We do not believe that we have engaged in any unfair or deceptive trade practice,” the filing notes. The FTC probe follows a $60 million per year deal Reddit signed with Google in February, granting the search giant access to Reddit's vast trove of user data to train its AI models. The agreement deepens the relationship between the two companies, ...
• "With the Reddit Data API, Google will now have efficient and structured access to fresher information," Google said at the time of the announcement. "As well as enhanced signals that will help us better understand Reddit content and display, train on, and otherwise use it in the most accurate and relevant ways."

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