Reddit's CEO Says API Price Change Uproar Will Pass: 'There's A Lot Of Noise With This One'

Zinger Key Points
  • Reddit faces backlash as 8,000 subreddits protest API price hike.
  • CEO reassures employees, stating there has not been significant revenue impact, and that the situation is temporary.

In a series of events that have stirred controversy and an uproar within its user base, Advanced Publications' Reddit, the popular news aggregator and community platform, has been grappling with the consequences of its Application Programming Interface (API) price changes announced in April

The aftermath has witnessed approximately 8,000 subreddits taking a stand against the fee increase, with numerous communities, including r/gaming, r/funny, r/todayilearned, and many others, opting to shut down indefinitely.

See Also: The Great Reddit Blackout: Why Your Favorite Subreddits Will Go Dark Today

In an internal memo obtained by The Verge, CEO Steve Huffman attempted to address the situation, reassuring employees that Reddit would overcome it.

"We have not seen any significant revenue impact so far and we will continue to monitor," Huffman said.

He also assured employees this turmoil is temporary: "There’s a lot of noise with this one. Among the noisiest we’ve seen. Please know that our teams are on it, and like all blowups on Reddit, this one will pass as well."

"The most important things we can do right now are stay focused, adapt to challenges, and keep moving forward. We absolutely must ship what we said we would. The only long-term solution is improving our product, and in the short term we have a few upcoming critical mod tool launches we need to nail," the CEO added.

The memo ended on a cautionary note, advising employees to be mindful of wearing Reddit gear in public. "Some folks are really upset, and we don’t want you to be the object of their frustrations."

Read Next: Will The Reddit IPO Finally Happen Later In 2023?

Photo: Steve Huffman Reddit (G Holland on Shutterstock and logo on Wikipedia)

Market News and Data brought to you by Benzinga APIs
Posted In: NewsSocial MediaTechMediaGeneralAPIRedditReddit BlackoutSteven Huffmansubreddit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...