Why Reddit Users are Against IPO
The 2023 Reddit Blackout is set to be remembered as one of the most significant online protests, where a united front of outraged Redditors orchestrated a massive blackout. Moderators of popular subreddits went private in protest, leaving Reddit as a virtual ghost town.
The catalyst for this uproar was Reddit's controversial business decision to require developers to pay over $20,000,000 for access to their developer APIs. These APIs were crucial for developers who relied on them to create valuable Reddit user, bots, and tools.