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Reddit downplays risks of developer backlash, decentralized social media in its IPO filing

TechCrunchTechCrunch · 9m
Reddit downplays risks of developer backlash, decentralized social media in its IPO filing

Reddit's upcoming IPO is set to be the largest social media IPO since Pinterest, but the company's S-1 filing fails to address the complications that arose from changes to its developer platform and API pricing. These changes led to site-wide protests, communities going dark, site stability issues, and traffic declines as moderators and users protested how the company was putting popular third-party apps out of business. Reddit also faces potential competition from the growing movement to decentralize social media. Despite these challenges, Reddit's IPO prospectus focuses on the benefits of licensing its data and emphasizes community-powered innovation. However, the company's past actions have left a mark and could potentially drive users to decentralized alternatives.

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