Reddit

Type: Company (a data seller — the only one on this rung that discloses what it is paid)

Reddit sells access to its forum corpus to AI developers, and because it is a listed company the price shows up in securities filings. Its IPO filing (S-1, filed 22 February 2024) disclosed data licensing arrangements signed in January 2024 worth $203.0 million in aggregate over two to three years, with at least $66.4 million expected as 2024 revenue, and substantially all of the contract value from one partner it did not name (Reddit S-1). What it sells is continuing access — an API plus quarterly bulk transfers — priced as a fixed or usage-based fee and recognised evenly over the licence.

What the later filings do and do not show

By Q2 2026 Reddit's 10-Q no longer gives a licensing figure. It reports "other revenue" of $43.3 million for the quarter, a line that also holds subscriptions and user-economy products, and says substantially all licensing contract value now comes from two partners. That filing was checked but not ingested; see the frontier for the figures and why.

Why the source is graded as it is

An S-1 is a sworn disclosure, so the figures are graded strong. It is also written to sell shares, so the framing of data licensing as a growth market is the seller's. The buyer's name and per-year price reported in the press ("Google, about $60 million a year") are not in the filing and stay [unverified].

Mentioned In

• The price of training data — the negotiated price beside the settlement's penalty price

Related Entities

• Anthropic — the other side of the ledger: data paid for through a lawsuit, not a deal