"Investors are fed up. Fidelity, which led Reddit’s $700 million funding round in 2021 with a $10 billion valuation, has cut its Reddit company valuation by 41% since it invested. This could scupper Reddit’s plans to eventually go public with a reported valuation of $15 billion."
I guess this is the new Reddit! Time to kick our feet up.
I expected as much. 2 days is a pitiful protest length. I will not be using Reddit any longer whilst keeping an eye on updates from here and other news sites. I'm hoping this memo encourages all subreddits to protest idnefinitely until this assclown of a CEO is willing to negotiate lower API prices. And if he's not, onto greener pastures. And watching /r/wallstreetbets figure out a way to destroy their IPO when it eventually launches.
I agree i'm in no hurry to use Reddit. I'll be satisfied if enough people stick around and keep the place interesting. In fact i would say sticking around the fediverse is the only answer to dystopic corporate domination. Those who return, enjoy your exploitation, lol.
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