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TechCrunch Minute: Reddit’s IPO success may hinge on AI boom
Reddit's IPO signals an end to our long-running dearth of IPOs, and the success of its stock could depend on its ability to leverage AI.
The company’s sheer size — more than $800 million in revenue last year — is partially marred by its continued unprofitability. It turns out that the endless reams of text and memes that Reddit’s myriad users generate every day is digital gold for the forum giant — as long as AI companies need data to train their models, that is. Of course, the public offering could also fizzle out like an unpopular opinion downvoted to hell on the site.
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