Karissa is a senior reporter at Engadget, covering Meta, Twitter, TikTok, Snap and all things social media. Her interests include tech policy, internet culture, and all the ways our online activities shape our IRL selves.
in paperwork filed with the Securities and Exchange Commission. The company, which is in the midst of its Initial Public Offering, said that the regulator notified Reddit officials that it “intended to request information and documents” about the company’s AI deals.
It’s not clear why the FTC is probing Reddit’s relatively new licensing business, but it seems to be in the early stages of its inquiry. “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 user-generated content with third parties to train AI models,” Reddit wrote in a filing.
Reddit’s deals to license its catalog of user-generated content are a key part of the company’s strategy to grow its revenue as it gets ready to. On the day the company filed for IPO, the company announced it had reached a deal with Google, which will use Reddit data to train its AI models. That arrangement was reportedly worth around, other companies have received similar letters from the FTC.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTC investigating Reddit over AI data-licensing practices ahead of IPOReddit said in an updated IPO prospectus on Friday that it’s being investigated by the Federal Trade Commission for its data-licensing practices.
Read more »
The FTC and DOJ want it to be legal to fix McDonald’s ice cream machinesThe agencies filed comment with the Copyright Office as part of the Section 1201 exemption process, asking to extend the right to repair to “commercial and industrial equipment.”
Read more »
FTC sending checks to people defrauded by student loan forgiveness scamsThe FTC is sending over $4.1 million in refunds to people who lost money in student loan forgiveness scams. Here's what to know.
Read more »
'This Is a Complete Scam': 23andMe Users Complain About Shady Auto-Renewal PoliciesGizmodo obtained dozens of angry complaints filed with the FTC in the past year.
Read more »