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VC funding up, Google's app fees down


VC funding up, Google s app fees down
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Last Updated: Mar 17, 2021, 07:55 AM IST
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Synopsis
In today s ETtech Morning Dispatch: India’s draft e-commerce policy; explained in two minutes; A clubhouse chat with Deepinder Goyal whose Zomato is lining up an IPO; and Google Play halves commission on first $1 million.
ETtech
Good morning,
Last year, India s GDP contracted by a massive 23.9% between April and June. Venture capital (VC) funding, however, seemed more or less immune to the virus, according to a report by Bain & Co.
Also in today’s letter:
A clubhouse chat with Zomato’s Deepinder Goyal
Google halves Play store commission ....

Deepinder Goyal , Zomato Deepinder Goyal , Aaron Levie , Vijay Shekhar Sharma , Ministry Of Electronics , India Growth Fund , Bain Co , Standing Group Of Secretaries , Department For Promotion Of Industry , Tata Consultancy Services Ltd , Google Play Store Billing , India Venture Fund , Competition Commission Of India , Sequoia Capital , Central Consumer Protection Authority , Elevation Capital , Falcon Edge , Lightspeed Venture Partners , India Post , Standing Group , Internal Trade , Last Friday , Singapore Based Jungle Ventures , Koji Capital , Eight Roads , F Prime Capital ,

Google Play Store commissions cut to 15 percent: Here's why


Google cuts Play Store fee from 30% to 15% for developers: Here s what it means
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Representational Image of Google Play Store.
Google via a blog post has announced a major change to its app store policy, under which it will cut its Play commissions globally for developers that sell in-app digital goods and services by half. This change will go into effect starting July 1. Apple brought in a similar change to its policy last year. Also Read - Latest Android 12 leak shows tons of never seen before features; here s a look
According to the blog post, the company is reducing the service fee Google Play receives when a developer sells digital goods or services from 30 percent to 15 percent for the first $1 million of revenue every developer earns each year. This according to the search giant’s data will help 99 percent of developers who sell goods and services on the Play Store see a reduction of “50 percent in fees.” The company added that the reason f ....

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