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Apollo will close down on June 30th

old.reddit.com

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Re: Apollo will close down on June 30th

#981

Post by Nifty3929 »

How much profit does Reddit make?

I asked Bard and this is what I got:

Reddit has not publicly released its financial information, so it is difficult to say exactly how much profit the company earns. However, we can make some estimates based on the company's revenue and expenses.

In 2021, Reddit generated $350 million in revenue, primarily from advertising. The company also has a premium membership program that generates around $17 million in revenue. Reddit's expenses are estimated to be around $200 million, which includes costs for salaries, marketing, and operations.

Based on this information, we can estimate that Reddit's profit in 2021 was around $150 million. However, it is important to note that this is just an estimate, and the actual amount of profit could be higher or lower.

Reddit is a growing company, and its revenue is expected to continue to grow in the coming years. This growth will likely lead to an increase in the company's profit. However, it is also possible that Reddit's expenses will increase as the company grows, which could offset some of the increase in revenue.

Overall, Reddit is a profitable company, and its profit is expected to continue to grow in the coming years.

Re: Apollo will close down on June 30th

#982

Post by daveidol »

sebastialonso wrote: post #980
wvenable wrote: post #912

Earlier quoted context omitted.

> Most people's favourite app is going to die Why is this not an issue for user's protesting? I use Relay for Reddit on Android and I think it's absolutely the best way to view Reddit on mobile if you're a fan of old.reddit.com. That app is going to die and I say screw them. I owe reddit nothing. If they want to turn the site into something that I don't want to use because it makes them more money that way. Good luck…

That's ok, you've certainly used their services for free, as most of us, and they don't owe you anything. I get the feeling that some people are trying to spin this into a crusade of sorts, I fully get this feeling from your words. And there's nothing inherently wrong with that I guess, but look a the big picture as well: you've used the services of a private company for years, paying zero cents. They made a business…

Valid point. I think people are turning this into a 'crusade' partly because they are just shocked and appalled by the way Reddit handled this whole thing.

In the end, it's their site and their decision to make, but it's understandable many people are upset by their actions and no longer want to use the site (which, btw, even if you were using it for "free" you may have been contributing in other ways via posts, comments, moderation, etc).

It also means losing potential customers - I would have been willing to upgrade to Reddit Premium to continue using Apollo, for example, but now I wouldn't even consider it.

Re: Apollo will close down on June 30th

#983

Post by wvenable »

sebastialonso wrote: post #980
wvenable wrote: post #912

Earlier quoted context omitted.

> Most people's favourite app is going to die Why is this not an issue for user's protesting? I use Relay for Reddit on Android and I think it's absolutely the best way to view Reddit on mobile if you're a fan of old.reddit.com. That app is going to die and I say screw them. I owe reddit nothing. If they want to turn the site into something that I don't want to use because it makes them more money that way. Good luck…

That's ok, you've certainly used their services for free, as most of us, and they don't owe you anything. I get the feeling that some people are trying to spin this into a crusade of sorts, I fully get this feeling from your words. And there's nothing inherently wrong with that I guess, but look a the big picture as well: you've used the services of a private company for years, paying zero cents. They made a business…

I absolutely get your point. I'm not saying they're not free to make whatever business decisions they want -- of course they are. And, of course, I want Reddit to be profitable and survive.

But if they're profitability involves alienating me as a user then I'm going to be alienated and I'm going to act like I'm alienated. I think the outrage makes perfect sense in this case. I'm equally outraged at other companies doing things that manipulate their customers for a tiny bit more profit (like shrinkflation).

Ironically they could have turned this situation into profit from me as I'm happy to pay for Reddit if it was required to allow me to use it in the way that I'm accustomed. Instead of embracing me as a customer, they want me gone.

Re: Apollo will close down on June 30th

#984

Post by ktr »

the_gipsy wrote: post #941
WestCoastJustin wrote: post #182

In this situation, do you hire someone to negotiate with or for you? I'm thinking the intention here was to sell the company for $10 million and that came across as a threat because of the language that was used. You would not record the call [1] and then publish it if you actually were blackmailing them for $10 million. I'm not faulting the guy here at all, I just think it comes down to lack of experience in dealing…

Bad negotiation because the other end owns the platform, has all the leverage. Apollo simply cannot stand up and leave the table, which is what reddit predictably did. Let that be the lesson: don't sink your time (and money) into building OSS (or a business) on top of a platform. It's like building on sand.

Not sure I agree. Apollo is apparently monetizing these users above and beyond what Reddit is/was able to accomplish. I’m confident that this represents value to Reddit > 0. So Reddit may have leverage, but not all the leverage.

Re: Apollo will close down on June 30th

#985

Post by justusthane »

e40 wrote: post #918
justusthane wrote: post #12

Apollo is such an incredibly high quality app — in fact, it’s so good that I haven’t had it installed on my phone in a couple of years because when I have it I spend way too much time on Reddit. The features, the polish, the customizability — everything about it is really top notch.

Totally agree. In fact, it was so good it allowed me to enjoy Reddit far more than I could have without it. And spend far more time on Reddit than I would have. Killing Apollo kills my desire to use Reddit.

That’s one advantage of the janky mobile site and the official app — I spend way less time on Reddit!

Re: Apollo will close down on June 30th

#988

Post by pavel_lishin »

sebastialonso wrote: post #980
wvenable wrote: post #912

Earlier quoted context omitted.

> Most people's favourite app is going to die Why is this not an issue for user's protesting? I use Relay for Reddit on Android and I think it's absolutely the best way to view Reddit on mobile if you're a fan of old.reddit.com. That app is going to die and I say screw them. I owe reddit nothing. If they want to turn the site into something that I don't want to use because it makes them more money that way. Good luck…

That's ok, you've certainly used their services for free, as most of us, and they don't owe you anything. I get the feeling that some people are trying to spin this into a crusade of sorts, I fully get this feeling from your words. And there's nothing inherently wrong with that I guess, but look a the big picture as well: you've used the services of a private company for years, paying zero cents. They made a business…

> And there's nothing inherently wrong with that I guess, but look a the big picture as well: you've used the services of a private company for years, paying zero cents.

While that's not false, look at it the other way: I've provided content for a private company for years, taking zero payment. Millions of us have. Reddit lives and dies by user submissions and comments, and taking what seems to be a stance that's wildly hostile to users feels very foolish to me.

Re: Apollo will close down on June 30th

#989

Post by pavel_lishin »

ARandumGuy wrote: post #467
flanbiscuit wrote: post #421

Here's a wild thought. What I would love to happen is that one of these apps (Sync or Apollo) release a version of their app where a user can enter their own API key. This would put the cost of the API usage on to the individual user instead of the app owner and the app owner can continue to focus on the app UI/features without worry. It wouldn't change how they made money off these apps either. Let's see what that w…

The main issue is there isn't enough time to implement such a solution. You have to develop this new system of handling API keys, communicate this change to customers, develop a process to migrate users, and figure out what to do with people who paid for an entire year of access 3 months ago. All of that is a herculean task for a small dev team to accomplish in 30 days. That's not even dealing with the fact that this…

> All of that is a herculean task for a small dev team to accomplish in 30 days.

Why 30 days? I mean, I know that Reddit announced that that's when they'll kill the API... but that's a completely arbitrary deadline.

Re: Apollo will close down on June 30th

#990

Post by rumdz »

erulabs wrote: post #92
Ekaros wrote: post #46

Earlier quoted context omitted.

And exactly what are they losing from business perspective? Few users that generate only costs?

Others are saying "power users", but... I agree with you. It is just an assumption that the "power users" make the product better, although a reasonable one. However, Reddit was pretty awesome, arguably much better , before there were semi-professional power users and moderators.

Reddit old is as good as it's always been
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