- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
cross-posted from: https://beehaw.org/post/411763
…to keep running as is.
creator of Apollo, a popular Reddit client for iOS, relays his talks with Reddit about upcoming ridiculous API pricing.
I think they are trying to go public and getting all users on their official apps makes their evaluation higher I guess
That is exactly the reason. The idea is to let someone else hold the bag, and “oh well” if they figure out they paid more for it than it was actually worth.
I have to wonder how much Reddit will actually be worth when it’s just the site of cat pictures and crappy memes. The quality of Reddit dropped significantly when they changed all the default subreddits, this is going back to the days when “old reddit” was “normal reddit” (around that era).
Fidelity has cut their valuation of Reddit (not related to the API issue). The IPO is probably not going to go nearly as well as they’d hope. The market is still wary of social media investmenting.
https://techcrunch.com/2023/06/01/fidelity-reddit-valuation/