True, but the valuation is for investors and per fucknut, Reddit isn’t making any money, hence the api push to a paid platform.
Also, Reddit is going public soon when they IPO and investors aren’t going to want to invest in a bot ridden, non active community.
I’d say 75%+ used Reddit on their phones and many of them used 3rd party apps.
The point is, Reddit IPOing soon and then this fiasco is the worst thing for them.
Splez recently said he thinks they will now go for the IPO later than they had planned originally. So I guess he's hoping this will blow over, the public/investors will forget and they'll recover. I'm not so sure.
They definitely pulled a digg. This is going to hurt them a lot more than they think.
True, but the valuation is for investors and per fucknut, Reddit isn’t making any money, hence the api push to a paid platform.
Also, Reddit is going public soon when they IPO and investors aren’t going to want to invest in a bot ridden, non active community.
I’d say 75%+ used Reddit on their phones and many of them used 3rd party apps.
The point is, Reddit IPOing soon and then this fiasco is the worst thing for them.
Splez recently said he thinks they will now go for the IPO later than they had planned originally. So I guess he's hoping this will blow over, the public/investors will forget and they'll recover. I'm not so sure.
They definitely pulled a digg. This is going to hurt them a lot more than they think.
That is true.