Reddit mentioned in the filing that it is not surprised by the FTC’s interest in this area due to the unique nature of the technologies and business agreements.
Social media giant Reddit is being investigated by the United States Federal Trade Commission (FTC) over its data licensing practices for artificial intelligence (AI) training. The investigation comes amid the company’s preparation for its long-awaited initial public offering (IPO).
Reddit revealed the investigation in an amended Form S-1 registration statement filed with the U.S. Securities and Exchange Commission on March 15, 2024, submitted the day after receiving notice about the FTC inquiry.
Reddit mentioned in the filing that it is not surprised by the FTC’s interest due to the unique nature of the technologies and business agreements. However, Reddit insisted it had not engaged in unfair or deceptive trade practices.
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Source: https://cointelegraph.com/news/reddit-faces-ftc-probe-over-ai-data-practices-ahead-of-ipo