IPO

According to Reddit's securities documents, the US Federal Trade Commission (FTC) is conducting a private investigation into the social platform's licensing of content to AI companies. According to foreign media Axios, other companies have also received investigative letters from the FTC. Reddit filed for an IPO last month, raising up to $748 million at a price of $3.1 to $3.4 billion per share, with a total valuation of nearly $6.5 billion (currently about 46.8 billion yuan). Image source Pexels The social platform said that the focus of the FTC's investigation is...

In Reddi's latest IPO filing, OpenAI CEO Sam Altman became a major shareholder of Reddit Inc., holding 8.7% of Reddit shares, including 789,456 Class A shares and 11.4 million Class B shares. Altman has a long-standing and close relationship with Reddit, having participated in the inaugural class of the 2005 Y Combinator accelerator with Reddit co-founders Steve Huffman and Alexis Ohanian, and has worked in the former...