Social network Reddit's IPO is an 'AI play,' says Herb Greenberg
Publishing timestamp: 2024-02-23 11:29:27
Summary
Reddit disclosed 2023 revenue growth of 20% and mentioned licensing its data as a potential new area of revenue growth in its IPO filing. The company recently cut a $60 million deal with Google to train its AI models on social network's data, but some argue that most valuable data has already been given away.
Sentiment: MIXED
Tickers: GOOGL,
Keywords: business news, alphabet inc, reddit, herb greenberg, breaking news: technology, ipo, technology, social media,
Source: https://www.cnbc.com/2024/02/23/social-network-reddits-ipo-is-an-ai-play-says-herb-greenberg.html