In contrast, the developer said that Narwhal 2 will only be available to paying subscribers, with an estimated price of $4-$7 per month to cover the Reddit API fees. As part of the latest announcement, Harrison said the currently shipping Narwhal will no longer show advertising, removing the main source of Narwhal revenue. It has not been explicitly confirmed if that request was granted by Reddit, but it does seem like something like that has been arranged. At the time, he floated a compromise where Reddit would zero-rate his API usage as long as he himself made no money from the app. In a previous update, he had said that the planned Reddit API fees would cost him $1 million to $2 million annually – an obviously unsustainable affair. Rick Harrison, developer of Narwhal, appears to have to come to some kind of special agreement with Reddit that avoids incurring exorbitant charges beginning July 1. If Reddit had given him more than 30 days to transition existing users to a new pricing structure, it is possible a solution could have been found to keep the app going. A major new version, Narwhal 2, is also apparently coming soon and will be funded exclusively by a subscription pricing model.įor most third-party apps, they are basically forced to close down as they face impending short-term costs with no buffer zone to transition users to a different business model.įor instance, Apollo developer Christian Selig previously said that he faced $50,000/month in fees from next month, and that it would be cheaper for him to close down the app altogether and refund existing paid users. However, the developer of popular third-party client Narwhal Rick Harrison posted a surprise announcement that goes against the trend, saying that Narwhal will be able to continue operating (after originally stating that it would have to close down). Many other clients are also shuttering in two days time, with API usage costs set to skyrocket. Popular third-party client Apollo is one of the casualties, and just released its swan song update asking users to decline a refund on their outstanding subscriptions. In 2011, Condé Nast spun out the site, while Advance Publications, parent of Condé Nast, retains a minority stake.The public deadline for the Reddit API changes is July 1. Launched in 2005, Reddit was acquired by Condé Nast the following year. The company has been valued at more than $10 billion. In December 2021, Reddit confidentially submitted a draft registration statement with the SEC for a proposed initial public offering. 5 and that info the attack accessed may have included “limited Reddit code, limited contact information for a small number of company contacts and employees (current and former), as well as limited advertiser information.” According to Reddit, no high-risk data was accessed such as credit card details, company financial information, account passwords, campaign strategy or performance. The company said it became aware of the phishing attack on Feb. Last month, Reddit revealed a “data security incident” in which a hacker used “a sophisticated phishing campaign” to access some internal documents and business information. We'll be up and running again soon.- Reddit March 14, 2023Īccording to Reddit, there more than 100,000 active communities from around the world across the site, spanning numerous topics and interest areas.
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