Wild, weird and sometimes wonderful (sometimes completely obscene), Reddit is going public with an IPO as soon as 1 Jul 23.
The drama? The amount of money they're telling 3rd party users of Reddit's API to keep access to the site to populate such apps as Apollo, Reddit Is Fun, and numerous others. The Apollo developers claim Reddit is looking for $5 million/month $1.7 million/month for API access, an astronomical amount compared to the traffic driven to the site (large) and one that the Apollo team will never reach (since they're not making any money from the app).
Slowly, sub-reddits (where the actual content is posted) are planning a blackout between 12-14 Jun, where those "subs" will be unavailable to any user from any platform.
Throw in that Reddit's own phone app is appalling bad and there's a mix that the IPO may actually kill the site in a short amount of time as users flee from the stupidity.
Social Media Drama: Reddit's IPO And The Fallout
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John Thomas8
- Posts: 5261
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- Occupation: Tech Support
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John Thomas8
- Posts: 5261
- Joined: Mon Feb 22, 2021 7:42 pm
- Location: Central NC
- Occupation: Tech Support