this post was submitted on 09 Jun 2023
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Interesting. I wonder if they already got an offer that matches their new API pricing, and they decided to up everything to match that cost and avoid being sued later.
Like, there seems to be some urgency between them announcing and upping the price. What was it? Is this the reason? A confirmed, extremely wealthy and extremly naive buyer?
The API pricing likely has something to do with the revenue per user calculations. Reddit is aiming for IPO but their valuation tanked over the past two years. That might be why the admins have decided to strong arm this with such a short notice.