NEW YORK POST - Apple and Google are about to face their first major test under a law targeting their app-store fees - and the result could be a battle in South Korea with Match Group. Match Group is angling to capitalize on a recently passed South Korean law that targets Apple and Google's fees, which can amount to ~30% of an app's revenue. The stakes are high for Match, which expects to fork ~$500M in such fees globally this year alone, representing ~20% of the company's global revenue. Match bought Seoul-based dating app Hyperconnect in June for $1.73B. Now, Match plans to submit updates to its apps before the end of October allowing South Korean customers to sidestep Apple and Google's payments systems. Match CFO Gary Swidler said the company was considering offering alternative payments systems to California customers at some point in the future.
by Theo Wayt
See full article at New York Post
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