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Reddit goes public: the latest updates on its IPO
The front page of the internet knows its data is valuable.
In June 2023, the site rolled out pricing changes to its API access that were ostensibly intended to pinch off easy AI data scraping but also created huge costs for developers of third-party apps like Apollo. In February 2024, the company announced a reportedly $60 billion AI training deal that would give Google access to the site’s massive repository of user-generated data, putting the cherry on top of its aggressive 2023 maneuvering. On Thursday, Reddit filed its S-1 registration statement with the SEC detailing its finances and business goals ahead of its imminent initial public offering on the New York Stock Exchange under the symbol RDDT.
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