Canada markets closed
  • S&P/TSX

    21,125.90
    -487.30 (-2.25%)
     
  • S&P 500

    4,594.62
    -106.84 (-2.27%)
     
  • DOW

    34,899.34
    -905.06 (-2.53%)
     
  • CAD/USD

    0.7851
    +0.0031 (+0.39%)
     
  • CRUDE OIL

    71.80
    +3.65 (+5.36%)
     
  • BTC-CAD

    73,139.55
    +3,698.83 (+5.33%)
     
  • CMC Crypto 200

    1,432.46
    -22.95 (-1.58%)
     
  • GOLD FUTURES

    1,796.20
    +8.10 (+0.45%)
     
  • RUSSELL 2000

    2,245.94
    -85.52 (-3.67%)
     
  • 10-Yr Bond

    1.4820
    -0.1630 (-9.91%)
     
  • NASDAQ futures

    16,243.00
    +192.00 (+1.20%)
     
  • VOLATILITY

    28.62
    +10.04 (+54.04%)
     
  • FTSE

    7,044.03
    -266.34 (-3.64%)
     
  • NIKKEI 225

    28,746.49
    -5.13 (-0.02%)
     
  • CAD/EUR

    0.6957
    +0.0052 (+0.75%)
     

Google to slash amount it keeps from sales on its cloud marketplace- CNBC

·1 min read
FILE PHOTO: A sign is pictured outside a Google office near the company's headquarters in Mountain View, California

(Reuters) -Alphabet Inc's Google will take a smaller cut when customers buy software from other vendors on its cloud marketplace, CNBC reported on Sunday.

The Google Cloud Platform is cutting its percentage revenue share to 3% from 20%, CNBC said, citing a person familiar with the matter. https://cnb.cx/2XZp7ep

"Our goal is to provide partners with the best platform and most competitive incentives in the industry. We can confirm that a change to our Marketplace fee structure is in the works and we'll have more to share on this soon," a Google Cloud spokesperson said in a statement to Reuters.

Earlier this year, Google cut the service fee it charges developers on its app store by half on the first $1 million they earn in revenue in a year.

(Reporting by Juby Babu in Bengaluru; Editing by Daniel Wallis)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting