Reddit's $203m of data deals: what its IPO filing revealed
When Reddit filed to go public in 2024, it disclosed data licensing agreements worth $203m in total, the clearest public price tag on AI training data so far.
The numbers
$203m: aggregate value of Reddit's data licensing contracts disclosed in its 2024 IPO filing, over two to three years.
About $60m a year: the reported value of its deal with Google.
Reddit later announced a separate partnership with OpenAI; terms weren't disclosed.
Reddit's disclosed and reported data licensingReddit IPO filing (2024); Reuters reporting
The lesson for companies
Reddit's value came from years of real human conversation, organised by topic. Company records have the same ingredients at a smaller scale: threads, questions and answers, with outcomes attached.
Key takeaways
Large platforms set the reference prices.
Company archives sell for far less, but the logic is the same.
Organised, historic, human-written data commands a premium.
Sources
Reddit, Inc. Form S-1 registration statement (Feb 2024)
Reuters: Reddit signs AI content licensing deal with Google (Feb 2024)
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