TECH - Reddit Stock Surges Nearly 9% After Announcing New Platform Update To Block Automated Content Scraping Following Reports Of Leading AI Startups Ignoring Rules | Benzinga
Social media platform Reddit Inc. (NYSE:RDDT) witnessed a significant surge in its stock value after the company announced a policy update to block automated website scraping.
What Happened: Reddit’s stock rose by almost 9% following the announcement of a new policy. The company, in a blog post, detailed the changes it is making to its Robots Exclusion Protocol (robots.txt file) to enforce its Public Content Policy, which governs the use of public content on Reddit.
Reddit underscored that it will also use other tools like rate limits and blocking unknown crawlers from its platform to make sure its content is not scraped by unauthorized parties.
This comes in the wake of leading AI companies like Microsoft Corp.-backed OpenAI, Alphabet ...