Finnish tech major Nokia (NYSE:NOK) has accused Reddit of infringing on some of its patents. The online message board operator Reddit is set to launch its IPO on Wall Street this week.
Nokia Technologies, the licensing unit of Nokia, has outlined its claims in a letter to Reddit. The latter is currently evaluating the claims. Reddit aims to achieve a valuation of nearly $6.5 billion. The company has noted that the increasing spotlight also raises the possibility of an uptick in intellectual property claims against it. The Federal Trade Commission (FTC) is also investigating Reddit regarding its sale, licensing, and sharing of user-generated content with third parties for the purpose of training their AI models.
Which Social Media Share Is Best to Buy?
Reddit’s listing comes at a bumper time for multiple social media names. Shares of Meta Platforms (NASDAQ:META) and Spotify (NYSE:SPOT) have surged by over 100% over the past year. However, the TipRanks Comparison Tool indicates the highest upside potential of 27.4% in Pinterest (NYSE:PINS) over the coming 12 months.
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