Thousands of moderators overseeing the site’s subreddits are on strike. It’s a wrinkle in Reddit’s plan to go public, and a sign that plan is premature, columnist Anita Ramaswamy writes.
All they had to do was make a special agreement for 3rd party apps that require vetting to get cheaper API access. Then you can keep the higher price for other non mobile app uses. It’s still baffling that RIF had a profit sharing agreement with Reddit that /u/spez exited from and then goes onto act like they’re all freeloaders.
Shu also tells me that RIF was paying a “sizable revenue share” to Reddit beginning in 2012, which was during Yishan Wong’s tenure as CEO. Shu says he says initiated the talks with Reddit to create the agreement, which allowed for the licensed use of Reddit’s trademarks. (At the time, the app was called “reddit is fun.”) Shu says Reddit terminated the agreement in 2016 — which was the year after Huffman took over as CEO.
Looks like revenue share even, not profit share? But that could be wrong terms used?
Well revenue means that RIF would have to pay reddit some amount, even if that amount left them unprofitable. Profit sharing would mean RIF would at least need to be profitable first. So for reddit revenue share is better, for RIF a profit sharing one would be better.
All they had to do was make a special agreement for 3rd party apps that require vetting to get cheaper API access. Then you can keep the higher price for other non mobile app uses. It’s still baffling that RIF had a profit sharing agreement with Reddit that /u/spez exited from and then goes onto act like they’re all freeloaders.
I did not know that RIF detail. It just gets worse.
https://www.theverge.com/2023/6/16/23763661/reddit-rif-is-fun-developer-ceo-steve-huffman
Looks like revenue share even, not profit share? But that could be wrong terms used?
I think revenue would make sense, no? Love your username btw.
Well revenue means that RIF would have to pay reddit some amount, even if that amount left them unprofitable. Profit sharing would mean RIF would at least need to be profitable first. So for reddit revenue share is better, for RIF a profit sharing one would be better.
And thanks:)