Reddit has recently announced a significant deal with Google, allowing the search giant to utilize posts from the popular online discussion platform for training its artificial intelligence models and enhancing products like online search. The deal, valued at approximately $60 million, will also grant Reddit access to Google's AI models to improve its site search functionality and other features.
Furthermore, Reddit disclosed plans for its upcoming initial public offering, aiming to list its shares on the New York Stock Exchange under the ticker symbol RDDT. In its recent filing with the Securities and Exchange Commission, Reddit reported a net income of $18.5 million in the October-December quarter, marking its first profit in two years, with revenue amounting to $249.8 million.
