Reddit isn't profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform's API

Reddit isn’t profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform’s API

  • bergkoenig@lemmy.oneEnglish
    0·
    1 year ago

    Acutely maybe, but it began years ago. I remember as early as 2013 or so people were saying it was not what it had been before

      • Ketchup@reddthat.comEnglish
        0·
        1 year ago

        I totally agree. Devaluing the product seems to be the way of business during this inflation. On social networks it’s the content creators. In the music industry it’s the plummeting percentage paid to artists over the last 5 years. You see it everywhere. Simultaneously requiring subscriptions. Essentially Reddit was going to force the API into a subscription profit model if Christian Selig went along and kept Apollo alive.