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Really hope this whole api mess comes back to bite them hard. Don’t think i’ll be returning to that site anytime soon. Sucks because there are some really great subs on there but the site as a whole has progressively gotten worse over the last 5-10 years.
I wonder if this has anything to do with the api debacle.
Causality might run the other direction in this case. The article says the date of that -41% valuation was April 28. So what I wonder is whether the upcoming changes are a sort of desperation move by reddit to shore up the bottom line. Not that I expect it to work.
It does feel a little early to be from that situation, which could mean future investors pulling funds if there’s significant backlash.
We’ve had plenty of examples of social media purchases that ended up tanking the valuation. It’s possible with the instability in the market, the potential value of Reddit as a platform is preemptively correcting. But I don’t know, I’m not an economist.
