[yukinon]

Yes. I create content, which generates traffic, which generates ad-revenue.

[sangnoir]

There's not going to be a lot of ad-revenue if a sufficient number of users are like you that use 3rd party clients. Content creation/consumption on Reddit follows power laws, therefore the vast majority of Apollo users are consumers who do not generate any ad-revenue while costing Reddit compute and bandwidth.

[Zak]

The percentage of views from third-party clients is single-digit, but it's likely a significantly above-average percentage of those are power users who generate content, moderate subreddits, or both.

This suggests to me that management is not interested in making it a long-term sustainable business after the IPO, but in a short-term cash grab.