{"id":25063,"date":"2024-03-20T03:25:49","date_gmt":"2024-03-20T08:25:49","guid":{"rendered":"https:\/\/ustower.net\/?p=25063"},"modified":"2024-03-20T03:25:55","modified_gmt":"2024-03-20T08:25:55","slug":"ipo-bound-reddit-discloses-patent-infringement-complaint-from-nokia","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=25063","title":{"rendered":"IPO-bound Reddit discloses patent infringement complaint from Nokia"},"content":{"rendered":"\n<p class=\"has-medium-font-size wp-block-paragraph\">March 19 (Reuters) &#8211; Reddit is evaluating a letter from Nokia Technologies&nbsp;<a href=\"https:\/\/www.reuters.com\/markets\/companies\/NOKIA.HE\"><u>(NOKIA.HE), opens new tab<\/u><\/a>&nbsp;alleging it infringed some of the telecom and cloud network firm&#8217;s patents, the social media platform said on Tuesday, ahead of its high-profile initial public offering (IPO) this week.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">The disclosure follows an&nbsp;<a href=\"https:\/\/www.reuters.com\/technology\/reddit-receives-ftc-inquiry-ai-related-deals-ahead-ipo-2024-03-15\/\"><u>inquiry<\/u><\/a>&nbsp;by the Federal Trade Commission focused on Reddit&#8217;s sale, licensing and sharing of user-generated content with third parties to train artificial intelligence models.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">&#8220;Nokia is seeking compensation for the use of (its) key inventions and will reinvest the royalties in the development of next-generation communication and multimedia technologies,&#8221; the company said in a statement.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Reddit, which has been involved in patent infringement litigation in the past, is targeting a valuation of up to $6.5 billion for its IPO in one of the most-anticipated share sales in recent years.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">&#8220;As we face increasing competition and become increasingly high profile, the possibility of receiving more intellectual property claims against us grows,&#8221; Reddit warned in its statement.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Patent disputes are common among social media businesses, but most of them get resolved without a trial, said Michael Parks, partner at law firm Thompson Coburn LLP.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Reddit&#8217;s dispute with Nokia has not yet led to a lawsuit, but the Finnish company has&nbsp;<a href=\"https:\/\/www.reuters.com\/business\/media-telecom\/nokia-signs-5g-patent-deal-with-chinas-vivo-2024-02-05\/\"><u>previously been involved in<\/u><\/a>&nbsp;some major patent challenges.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Reddit&#8217;s IPO is between four and five times oversubscribed, Reuters&nbsp;<a href=\"https:\/\/www.reuters.com\/markets\/deals\/reddits-ipo-much-five-times-oversubscribed-sources-say-2024-03-17\/\"><u>reported<\/u><\/a>&nbsp;on Sunday, making it more likely to attain its target valuation. It is expected to debut on the New York Stock Exchange on March 21.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">&#8220;If you are about to embark upon an IPO and you have a major patent infringement lawsuit against you, it is going to raise the eyebrows of investors,&#8221; Parks said.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"https:\/\/www.reuters.com\/technology\/reddit-says-nokia-accused-it-patent-infringement-2024-03-19\/\">Reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>March 19 (Reuters) &#8211; Reddit is evaluating a letter from Nokia Technologies&nbsp;(NOKIA.HE), opens new tab&nbsp;alleging it infringed some of the telecom and cloud network firm&#8217;s patents, the social media platform said on Tuesday, ahead of its high-profile initial public offering (IPO) this week. The disclosure follows an&nbsp;inquiry&nbsp;by the Federal Trade Commission focused on Reddit&#8217;s sale, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[25613,24001,26010,27295,27296,26009],"class_list":["post-25063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-complaint","tag-infringement","tag-ipo","tag-nokia","tag-patent","tag-reddit"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25063"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25063\/revisions"}],"predecessor-version":[{"id":25065,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25063\/revisions\/25065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/25064"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}