Reddit CEO Steve Huffman's decision to charge developers for API access was inspired at least in part by Twitter owner Elon Musk's decision to do the same.
“Long story short, my takeaway from Twitter and Elon at Twitter is reaffirming that we can build a really good business in this space at our scale,” he said. “Now, they’ve taken the dramatic road, and I guess I can’t sit here and say that we’re not either, but I think there’s a lot of opportunity here.”
Mr. Huffman’s comments underscore an effort to make more money ahead of an initial public offering this year. Many industry experts see this month’s layoffs and the decision to start charging developers for API as a way to generate revenue. Developers have used Reddit API for years to develop sister apps for creativity or accessibility. Popular developer Apollo said the price change would cost it $20 million a year and announced it would shut down at the end of June.
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