This is the best summary I could come up with:
Reddit will let “an unnamed large AI company” have access to its user-generated content platform in a new licensing deal, according to Bloomberg yesterday.
The deal, “worth about $60 million on an annualized basis,” the outlet writes, could still change as the company’s plans to go public are still in the works.
The news also follows an October story that Reddit had threatened to cut off Google and Bing’s search crawlers if it couldn’t make a training data deal with AI companies.
Last year, it successfully stonewalled its way out of the biggest protest in its history after changes to its third-party API access pricing caused developers of the most popular Reddit apps to shut down.
As Bloomberg writes, Reddit’s year-over-year revenue was up by 20 percent by the end of 2023, but it was still $200 million shy of a $1 billion target it had set two years prior.
The company was reportedly advised to seek a $5 billion valuation when it opens up for public investment, which is expected to happen in March.
The original article contains 346 words, the summary contains 175 words. Saved 49%. I’m a bot and I’m open source!
Long Live Lemmy
Well, they can (and will) still scrape us if they want. Just nobody’s making a buck off of it.
That’s going to be a lot more work since comments and posts are decentralized here. You can probably easily get some of it but it will be hard to get all of it.
It’s actually even easier than that. Instead of setting up an tool to make up requests for the API, you can just set up a bridge that will dump everything right into your database. The wonders of federation.
Time to delete my old accounts, I guess. Is there a bit that will go through and delete all posts and comments too? That would be helpful.
I used PowerDeleteSuite back in June.
It’s private and not paid like Redact. I’d consider editing the comments instead of deleting them to spread the word/reason of deletion.
That’s what I did. I turned all my comments into Lemmy advertisements, and also an obscene sentence telling u/spez to kill himself (I’m not proud of it at this juncture, but it felt good at the time).
Nice! Someone owes me 5€ now.
User content from Reddit? It’s barely worth looking at for free…
