Reddit CEO downplays blackout protests, assures employees of revenue stability.

Reddit's CEO downplayed the impact of the recent API protests, stating that "this one will pass." However, the protest may not end when the initial 48-hours are up, as more than 8,400 subreddits have gone private in protest. The company's plans to charge exorbitant fees to developers for API access have caused major subreddits with more than 30 million members to go private, and some subreddits plan to stay private indefinitely. Reddit is rolling out a high-priced, pay-as-you-go model for developers seeking API access for its apps, which has caused one of Reddit's most popular third-party apps, Apollo for Reddit, to shut down.