Reddit mentioned in the filing that it is not surprised by the FTC’s interest in this area due to the unique nature of these technologies and business agreements.
Social media giant Reddit has revealed that it is being investigated by the Federal Trade Commission (FTC) over its data licensing practices for artificial intelligence training. The disclosure comes amid the company’s preparation for its long-awaited initial public offering.
The disclosure appeared in an amended S-1 registration statement filed with the Securities and Exchange Commission on March 15, 2024, submitted the day after receiving the FTC inquiry.
Reddit mentioned in the filing that it is not surprised by the FTC’s interest in this area due to the unique nature of these technologies and business agreements. However, Reddit insisted it had not engaged in unfair or deceptive trade practices.
