Just kind of dawned on me while looking at the number, Reddit’s licensing deal with Google is valued at $60 million per year. That’s really not very much money at all, considering the amount of data Reddit has and continues to accumulate. And chump change for Google, no doubt. Reveals how little leverage Reddit actually has at this point. This was their flagship deal, and the best they could get was $60mil per year.

Also puts the API fiasco in a new light. “Look, we need to charge for API calls, because we need to restrict public access to data as a precondition of selling all your shit in a few months to Google, for the financial equivalent of a cup of coffee.”