- Published on February 24, 2024
- In Global Tech
Why is Google Eyeing Reddit’s Data?
Google forks out over $60 million to Reddit in a deal to rent a dive into wild conversations to train its AI, all while Reddit gets to spruce up its search capabilities with Google's AI magic.
Image by Nikhil Kumar
- By K L Krithika
Recently, Google signed a data licensing agreement with Reddit, reportedly costing $60 million per year, to access the social media and news aggregation platform's real-time content through its data API. This has come close to Reddit's initial public offering (IPO) in March this year.
Reddit, the first major social media company to go public since Pinterest in 2019, will likely be aiming for a valuation of at least $5 billion in the IPO. Since the first announcement in 2021, the company has been making sweeping changes to allegedly increase its revenue and further its valuation.
Besides, in a big change, Reddit eliminated free access to most of its API. Developers now need to pay for access, with pricing based on the number of requests made, which were exorbitant, shutting down al
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K L Krithika
K L Krithika is a tech journalist at AIM. Apart from writing tech news, she enjoys reading sci-fi and pondering the impossible technologies, trying not to confuse it with reality.
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