Google Play halves commission on developers’ first $1M – ProWellTech
Google lets developers keep more of their play revenue, Instagram adds youth security features, and we’re exploring risk funding distribution around the world. This is your daily crisis for March 16, 2021.
The big story: Google Play halves the commission for the first $ 1 million
Following a similar move by Apple last year, Google announced it was cutting the fee from 30% to 15% for the first $ 1 million developers earn annually through Google Play.
This is slightly different from Apple’s approach in that it applies to all developers – although the fee goes down to 30% for any money earned beyond that first million dollars.
“We have heard from our partners, who make $ 2.5 million, and even $ 10 million a year, that their services are still on their way to self-sustaining orbit,” wrote Google’s Sameer Samat. “That’s why we’re making this reduced fee available for the first $ 1 million of total revenue generated each year to any Play developer who uses the Play accounting system, regardless of size.”
The technology giants
Instagram adds new security tools for teens as competition intensifies with TikTok. According to Instagram, new security features are being introduced that will prevent adult users from contacting teenagers who have not yet followed them.
Google’s Soli Radar returns to track sleep on the new Nest Hub. We haven’t heard a glimpse of Project Soli since the technology was introduced with the Pixel in late 2019.
China Wants to Degrade Alibaba’s Media Empire: Reports – Over the years, Jack Ma has built a media portfolio in China that rivals that of Jeff Bezos in the US.
Startups, Financing and Venture Capital
Socure is raising $ 100 million at a valuation of $ 1.3 billion, proving identity verification is hotter than ever. Socure uses AI and machine learning to verify identities.
Overwolf raises $ 52.5 million for its platform for creating, distributing, and monetizing in-game user-generated content. The company’s platform includes around 30,000 developers, 90,000 mods and add-ons, and 18 million monthly users in thousands of games.
SafeGraph aims to become the ultimate source of location data and brings in $ 45 million. While there are many companies that sell data through physical locations, SafeGraph CEO Auren Hoffman said his startup is “one of the few companies that sells that data to data science teams. ”
Advice and analysis of extra crunch
Global inequality in risk financing is staggering – there has been a boom in Latin American and European fintechs and an overall surge in VC activity in a variety of Asian countries, but the landscape remains unbalanced.
The NFT market is just getting started, but where is it going? – Part one in a three-part series.
Farmland could be the next big asset class modernized by marketplace startups – startups like AcreTrader and others, including Tillable, FarmTogether, and Harvest Returns, are bringing marketplace models to agriculture.
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Everything else
Ford Expands Robotics Research to $ 75 Million at the University of Michigan – Ford Motor Company will embed 100 of its researchers and engineers in a new robotics and mobility facility on the University of Michigan’s Ann Arbor campus.
Talk to Sean Lane, whose company tore 28 products into a unicorn, about adapting to the product market – Occasionally, it is easy for startups to get what is called a product market adaption, but more often it is a struggle.
Get feedback on your pitch deck from technology leaders at Extra Crunch Live – The importance of the pitch deck is not to be underestimated.
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