RDDT News & Events

General Atlantic is selling a stake in ByteDance that values the company at $550B, Echo Wang and Kane Wu of Reuters reports, citing two people with knowledge of the matter. This potential stake divestment will be the first since the Trump administration cleared the sale of U.S. interest of ByteDance's TikTok in January. General Dynamic hopes to close the sale in March, sources added. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).

The U.K.'s ICO says it has fined Reddit GBP 14.47M after finding the company failed to use children's personal information lawfully. The investigation found that Reddit: Failed to apply any robust age assurance mechanism and therefore did not have a lawful basis for processing the personal information of children under the age of 13. Failed to carry out a data protection impact assessment to assess and mitigate risks to children before January 2025. John Edwards, UK Information Commissioner, said: "Children under 13 had their personal information collected and used in ways they could not understand, consent to or control. That left them potentially exposed to content they should not have seen. This is unacceptable and has resulted in today's fine. Let me be clear. Companies operating online services likely to be accessed by children have a responsibility to protect those children by ensuring they're not exposed to risks through the way their data is used. To do this, they need to be confident they know the age of their users and have appropriate, effective age assurance measures in place. Reddit failed to meet these expectations. They must do better and we are continuing to consider the age assurance controls now implemented by the platform."

Sprout Socia (SPT) announced new AI-driven innovations and an expanded partnership to help brands reach people in the Answer Engine era. These updates empower organizations to create and scale the type of authentic content that consumers and AI answer engines value most. This release features an expanded Reddit (RDDT) partnership, a new AI-powered creator management tool called Recruit, and the Trellis Monitoring Agent for NewsWhip.