Reddit protest updates: news on the apps shutting down and Reddit’s fights with mods
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Maybe Reddit’s slowing revenue growth is partially responsible for the company trying to lock things down.
According to The Information, Reddit’s revenues were up 38 percent in 2022, but that’s down from the “more than doubling of revenue” it saw from 2020 to 2021.
That said, The Information says Reddit still earned “about $670 million” in revenues last year. I don’t know if getting back the $10 million in “pure infrastructure costs” CEO Steve Huffman told me that it takes to support third-party apps is going to make all that much of a difference.
Reddit Sales Growth Slowdown Preceded Fight Over New API Fees
[The Information]
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