Discussion

• @adnan.social Adnan on bluesky

  Not an even a billion!  You pissed your users for not even a billion!!

• @tprstly Theo on x

  Reddit would be worthless without its users, and they sold all their content to Google for $60m. That's how much they valued their community. Remember this. But I bet you won't.

• @xpangler Todd Spangler on x

  In its S-1 filing, Reddit said “as we pursue opportunities to empower our user economy, we expect to face competition from existing online marketplaces,” including Facebook Marketplace, Nextdoor, Craigslist, Poshmark, Etsy and Roblox. https://variety.com/... via @Variety

• @mikeisaac Rat King on x

  i would love to know at what price Reddit invested some of its cash reserves into bitcoin and ether (!!!), since it's spiking in recent weeks..... [image]

• @byrnehobart Byrne Hobart on x

  “Similar to how cities are made from cement and steel, but are really built by their citizens, Reddit is made from code and algorithms, but is really built by our users.” - Reddit S-1. Paul Graham's writing style has definitely had an influence.

• @laurashin Laura Shin on x

  .@Reddit revealed in a filing to go public with the SEC that it had invested some of its excess cash in BTC and ETH, and also held some MATIC. @httpsageyd reports https://unchainedcrypto.com/ ...

• @mikeisaac Rat King on x

  Reddit (RDDT) is not profitable, but cut its losses significantly from 150mm in 2022 to roughly 90mm in 2023, and revenues of 800 mm last year numbers are better than i thought, though ad biz is still nascent and heavily skewed towards advertising https://www.nytimes.com/...

• @tier10k @tier10k on x

  REDDIT SAYS THEY INVESTED EXCESS CASH INTO BTC AND ETH, MAY CONTINUE TO DO SO IN FUTURE Source: DB | Coins: BTC, ETH

• @mikeisaac Rat King on x

  some really interesting stuff in here: — Reddit cites the rise of LLMs as a risk factor and the idea that people may start viewing reddit via LLMs rather than going to reddit itself — also its entire content moderation mechanism relies on its mods, which are inherently risky

• @gregisenberg Greg Isenberg on x

  Reddit JUST announced it is going public under the symbol $RDDT Quick metrics: - 100,000 communities - $804 million in annual sales for 2023 - 73M daily active users - ~$10B valuation Why this is cool... Reddit has been just quietly doing its thing for 18 years. It's TODAY's... […

• @rohitdotmittal Rohit Mittal on x

  One of the important non-founder players in Reddit going public is Jen Wong. She was previously Chief Business Officer at Popsugar, and I overlapped with her at the time.\ Worked on a couple of small projects where she was involved. She was a powerhouse and great to work with....…

• @jseyff James Seyffart on x

  Was very intrigued why a Reddit S-1 hit one of my Bloomberg Alerts that i use to track Crypto ETP filings. It's because they bought #Bitcoin and #Ethereum👀 [image]

• @mikeisaac Rat King on x

  reddit files S-1 paperwork for an initial public offering! first major social media company to go public since Snap in 2017 (though there have been a string of smaller ones since) NYSE Ticker symbol: RDDT

• @ericjackson Eric Jackson on x

  Ironic with all the folks saying we're in an AI bubble for the last year that this would be the first tech IPO in 2.5 years

• @shiringhaffary Shirin Ghaffary on x

  Fun fact: @sama was once interim CEO of Reddit for 8 days. More about Altman and his ties to Reddit as one of its largest shareholders here: https://www.bloomberg.com/...

• @pakman David Pakman on x

  Or as we now say in tech, a “.01 of an NVIDIA”

• @mathewi Mathew Ingram on x

  I assume this is why they made all those changes that everyone got so upset about

• @thegallowboob Rob on x

  Alright here we go @Reddit IPO invite received. Time to send this meme-stock to the moon 🚀 (or get rekt trying) [image]

• @carnage4life Dare Obasanjo on x

  A few surprises in Reddit's financials are that it's still unprofitable in its nineteenth year of existence and if it does list at $5B as rumored then it will be a down round relative to its series F funding round which valued it at $10B. Sam Altman owning a huge chunk also a 🤯

• @jason_koebler Jason Koebler on x

  Reddit's S-1 says that it's “in the Early Stages of Monetizing Our User Base” by selling their posts for LLM training https://www.404media.co/...

• r/ethtrader r on reddit

  Reddit Inc. now owns Ether in its treasury

• r/neoliberal r on reddit

  Reddit S-1 just dropped: 73M Daily active users (+27% YoY), $804M in revenue, and turned a profit for the first time in Q4'2023.

• r/economy r on reddit

  Reddit files to list IPO on NYSE under the ticker RDDT

• r/wallstreetbets r on reddit

  Reddit IPO

• r/technology r on reddit

  Reddit files to list IPO on NYSE under the ticker RDDT

• r/wallstreetbets r on reddit

  Reddit files publicly for US IPO

• @dans_root@mastodon.social @dans_root@mastodon.social on mastodon

  @Techmeme A karma score of at least 2,000 is not too hard to achieve.

• @alexeheath Alex Heath on x

  🚨 Reddit IPO is here! S-1 just dropped. 🚨 $800m in rev last year with a net loss of $90.8m. 500m site visitors in Dec with 73m DAUs. Also pulling a Robinhood by inviting power users (mods, those with high karma) to invest in the IPO... https://www.theverge.com/...

• r/technology r on reddit

  Reddit is going public and inviting power users to invest

• @edmundlee Ed Lee on threads

  Given the fact that ...  • after almost 2 decades, @reddit has likely never made money  • the Newhouse family will likely want to get some money back  • they'll likely sell most if not all of its stake It's worth noting that...  • Sam Altman owns 9% of the voting rights …

• @aristeon89@mastodon.online @aristeon89@mastodon.online on mastodon

  OpenAI's Sam Altman has been revealed as one of Reddit's major shareholders, with a significant stake of 8.7% in the company, including 4.5% of its Class A shares and 9.3% of its Class B shares.  —  This makes him the third-largest shareholder in Reddit, behind Advance (30 percen…

• @j_arthur_bloom Arthur Bloom on x

  A lot of funny things about this, for one it's classic Chisrael with Tencent and Sam Altman, but another is that the money behind Condé Nast tastemaking is also behind Reddit culture, the lamest thing in existence.

• @alexweprin Alex Weprin on x

  Sam Altman owns about 9% of Reddit, and the company touts AI training as a growth area. My latest:

• @pitdesi Sheel Mohnot on x

  TIL @sama owns 8.7% of Reddit & has invested $60M in the company. Sam was CEO of Reddit for 8 days in 2014 😂 He's the 3rd largest shareholder after Advance Magazines and Tencent Also interesting bc Reddit struck a $60M licensing deal with Google AI [image]

• @alexeheath Alex Heath on x

  One of the most interesting nuggets in the Reddit S-1 is that Sam Altman, who stepped off the board in 22, has more than double the voting power of the CEO https://www.theverge.com/... [image]

• r/singularity r on reddit

  OpenAI's Sam Altman Revealed As One of Reddit's Biggest Shareholders

• r/technology r on reddit

  OpenAI's Sam Altman Revealed As One of Reddit's Biggest Shareholders

• @quillmatiq Anuj Ahooja on threads

  Interesting to me that companies building LLMs are willing to pay a company that stores and locks down content generated by unpaid and often non-expert users for training data, but will not give money to newsrooms that store content generated by paid and trustworthy writers. …

• @mattnavarra Matt Navarra on threads

  Google confirms expanded $60m a year partnership with Reddit The new partnership will include: - A new Cloud partnership that enables Reddit to integrate new AI-powered capabilities using Vertex AI.  - Reddit intends to use Vertex AI to enhance search and other capabilities on th…

• @crumbler Casey Newton on threads

  Here's Reddit confirming its (reportedly $60M) deal with Google while going out of its way to avoid mentioning the fact that it's selling all of your posts to train Google's LLMs https://www.redditinc.com/...

• @brianstorms@mastodon.social Brian Dear on mastodon

  @Techmeme  —  It's time to start filling Reddit with illogic, misinformation, ridiculous takes, and general noise, to fill up the tech titan AIs with nonsense.  —  Oh, wait...

• @markhachman Mark Hachman on x

  Knowing what I know about Reddit lore, some of the responses Bard is going to return for otherwise innocuous queries are going to be horrific

• @rustybrick Barry Schwartz on x

  With the new Reddit / Google news and the data - SEOs can't be happy with this.

• @glenngabe Glenn Gabe on x

  22M to 41.1M urls -> OK, so Google has a deal with Reddit to train its AI on Reddit content. We also know that the “hidden gems” piece rolled out in the fall of 2023 and Reddit (and other forums) surged. But with the deal, does Google have a firehose from Reddit? i.e. Is Reddit..…

• @cherthedev Cher Scarlett on x

  This is concerning, opting out requires knowledge and access to an account. Reddit does not offer account recovery if you've lost access to an account. This should be opt-in.

• @mmitchell_ai @mmitchell_ai on x

  W/ the new Reddit data licensing deal, some important questions remain: -How will they treat content that infringes the copyright of others? -Is user consent accounted for? -Do users have a way to opt out? -Is all user content since 2005 included? https://www.theverge.com/...

• @reuters @reuters on x

  Last year, Reddit said it would charge companies for access to its application programming interface - the means by which it distributes its content. The agreement with Google is its first reported deal with a big AI company 4/8 [image]

• @mrjnowlin @mrjnowlin on x

  Peanuts. Course I don't think I actually want Google training on most of that data......

• @toddlombardo Todd on x

  @mediagazer And Reddit the company creates 0% of the content. Users do it for free

• @basedtorba Andrew Torba on x

  Google's AI is about to get A LOT worse lol

• @annatonger Anna Tong on x

  Reddit's first AI content training deal is with Google. At $60 million a year, deals like this could be a very lucrative income stream for the social media company. Reddit's S1 could go public as early as tmrw (2/22) https://www.reuters.com/...

• @reuters @reuters on x

  The deal underscores how Reddit, which is preparing for a high-profile stock market launch, is seeking to generate new revenue amid fierce competition for advertising dollars from the likes of TikTok and Facebook 3/8 [image]

• @chirag_mehta Chirag Mehta on x

  We are primarily going to see two races: 1) Better, faster, cheaper models 2) Models trained on a broad range of content domains

• @brij @brij on x

  r/mildlyinfuriating for LLM startups

• r/google r on reddit

  Google expands partnership with Reddit

• r/google r on reddit

  Reddit has struck a $60 Million deal with Google to Use its content for training AI models

• r/privacy r on reddit

  Reddit in AI content licensing deal with Google

• r/news r on reddit

  Exclusive: Reddit in AI content licensing deal with Google

• r/singularity r on reddit

  Exclusive: Reddit in AI content licensing deal with Google