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Key takeaways
- Over 7,000 subreddits have closed in protest of Reddit’s new API charges
- CEO Steve Huffman has defended the move, saying generative AI apps have forced the move for Reddit to survive as a company
- It’s another raised eyebrow from investors ahead of Reddit’s rumored IPO later this year
If you headed over to Reddit right now, many of your favorite subreddits would be closed. The so-called Reddit blackout has taken hold of the popular forum, which often refers to itself as the ‘front page of the internet’, in a backlash against the company’s decision to charge for access to its API.
The move is controversial, with many third-party apps having to shut down as a result, but the Reddit CEO has his reasons and doesn’t appear to be backing down anytime soon. As for the long-awaited IPO, this latest moderator revolt could further delay the offering. We’ve got the details below.
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