Nokia Tells Reddit It Infringes Some Patents in Lead-Up To IPO

An anonymous reader shares a report: Reddit, the social media platform gearing up for an initial public offering this week, said Nokia has accused it of infringing some of their patents. Nokia Technologies, the company's licensing business, sent Reddit a letter on Monday with the claims, and Reddit is evaluating them, according to a filing made Tuesday. Nokia's claims come as Reddit prepares for an initial public offering in an effort to raise hundreds of millions of dollars. The company has been working toward a listing for years, and its public market debut this week is set to become a high-profile addition to the year's roster of newly and soon-to-be public companies. Reddit said in the filing: "On March 18, 2024, Nokia sent us a letter indicating they believed that Reddit infringes certain of their patents. We will evaluate their claims. As we face increasing competition and become increasingly high profile, the possibility of receiving more intellectual property claims against us grows. In addition, various 'non-practicing entities,' and other intellectual property rights holders have asserted in the past, and may attempt to assert in the future, intellectual property claims against us and have sought, and may attempt to seek in the future, to monetize the intellectual property rights they own to extract value through licensing arrangements or other settlements."

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