The Federal Trade Commission is looking into Reddit’s licensing of platform content to artificial intelligence companies, the social media company disclosed Friday in a securities filing.
The Federal Trade Commission is looking into Reddit’s plans to license its platform content to artificial intelligence companies, the social media company disclosed Friday in a securities filing. The disclosure emerged ahead of the company’s long-anticipated initial public offering, which comes nearly 20 years after its launch and is set to make it the first social media platform to go public in years.
” Reddit added that the company does not believe it has violated US consumer protection law. “The letter indicated that the FTC staff was interested in meeting with us to learn more about our plans and that the FTC intended to request information and documents from us as its inquiry continues,” the company said. The disclosure came as an amendment to Reddit’s IPO filing. The company has entered into an agreement to share its platform data with Google in order to train the tech giant’s AI models.
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