Paytm founder upset with Google, says the tech giant is ignoring concerns of developers in India
Google, on Tuesday, halved its Play store service fee for app developers.
By ET Online and Agencies |
BCCL
Last year in October, Paytm launched its Android Mini App Store for Indian developers to enable them to take their innovative products to the masses.
Days after facing criticism, tech giant Google said that it would slash its app store fees to 15 per cent from earlier decided 30 per cent on the first $1 million developers earn in revenue in a year, which will be effective from July 1.
Many large firms like Microsoft and Spotify, as well as several start-ups and smaller companies have also raised concerns that the fees will deprive consumers of choices and push-up app prices. And now it appears the search engine giant has upset the Paytm founder as well.
Vijay Shekhar Sharma took to Twitter to express concern over Google's move. He said that it shows how Google is ignoring the pleads made by thousands of developers in India.
The 42-year-old entrepreneur said that it was shocking to see Google dismiss the issue of blocking large payments platform in India on Android apps. "Obviously other payment platforms won’t even charge 1%, that’s why," he wrote.
It is absolutely shocking to see Google shrugging off the issue of blocking payments platform of scale in India, o… https://t.co/f2yyWUBLIx
Last year in October, Paytm launched its Android Mini App Store for Indian developers to enable them to take their innovative products to the masses. The news came after Cupertino-based Apple faced similar scrutiny last year when it forced developers to use its App Store to reach iPhone users. Later in November after the backlash, it also halved its App Store commission to 15 per cent on companies that earn less than $1 million a year in app sales.
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Fortnite creator Epic Games has been at loggerheads with Apple since August when the game-maker tried to avoid paying fees on the iPhone-maker's app store by launching its own in-app payment system, which prompted Apple to ban Fortnite from its store.
Foreign Investors Love India: Paytm Top-Valued Startup At $10 Bn; Snapdeal & Byju’s Also In The List
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Venture capitalists make a living out of backing the right horse. The corporate racecourse is filled with examples of colts that went on to win big, in part due to funding from well-heeled backers who bought into the early promise. Think Facebook, Spotify, or Alibaba.
According to a report by the machine intelligence platform CB Insights, there were 411 unicorns as of January 2019, of which the lion’s share were registered in the United States and China.
Venture capitalists make a living out of backing the right horse. The corporate racecourse is filled with examples of colts that went on to win big, in part due to funding from well-heeled backers wh..
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Since the opening up of the Indian economy nearly three decades ago, a raft of businesses have sprung up, becoming torchbearers for the country on the world stage. Despite cloudy skies on the economic front, India remains a favoured destination for foreign investors, many of who see a pot of gold at the end of the rainbow. As many as 19 unicorns are stabled in India. In business parlance, a unicorn is a startup is a private company that is valued at over USD 1 billion. India has the distinction of being in the fourth spot globally in terms of the number of ‘unicorns’ according to the country of their domicile.
Since the opening up of the Indian economy nearly three decades ago, a raft of businesses have sprung up, becoming torchbearers for the country on the world stage. Despite cloudy skies on the economi..
Read More
The United States boasts 194 unicorns, while China, the United Kingdom and India have 99, 20, and 18 high-value startups. India ranks higher than countries like Germany, France, and South Korea, which have more advanced economies.
The United States boasts 194 unicorns, while China, the United Kingdom and India have 99, 20, and 18 high-value startups. India ranks higher than countries like Germany, France, and South Korea, whic..
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At USD 10 billion, the top-valued Indian unicorn is One97 Communications, the parent company of Paytm. The highest-valued private company in the world is China’s Bytedance, the maker of a suite of popular social sharing apps including TikTok, which was briefly banned in India. Other Indian companies on the list include Snapdeal (USD 7 billion), Byju’s (USD 5.75 billion), Oyo Rooms (USD 4.3 billion), Swiggy (USD 3.3 billion), and Zomato (USD 2.18 billion).
Here a look at some of the highest-valued unicorns in India, industry-wise.
At USD 10 billion, the top-valued Indian unicorn is One97 Communications, the parent company of Paytm. The highest-valued private company in the world is China’s Bytedance, the maker of a suite of po..
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China’s Bytedance tops the chart at USD 75 billion, followed by Alibaba-backed SenseTime and the New York-headquartered UiPath. USD 7 billion-rated Argo AI is among the top four firms engaged in developing artificial intelligence and machine learning technology. Argo AI, which is backed by the Volkswagen Group and Ford Autonomous Vehicles, is in the process of crafting a self-driving technology platform for clients in the automobile industry. Other notable unicorns in this industry include China’s face recognition company Face+, whose investors include Ant Financial and the Russia-China Investment Fund.
China’s Bytedance tops the chart at USD 75 billion, followed by Alibaba-backed SenseTime and the New York-headquartered UiPath. USD 7 billion-rated Argo AI is among the top four firms engaged in deve..
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India’s Ola makes it to the list, with secured financial backing from SoftBank Group, Tiger Global Management, Matrix Partners India. However, it is one of the smallest auto and mobility sector companies in the unicorn club. Beijing-based Didi Chuxing is the highest-valued auto unicorn at USD 56 billion. The list also includes Singapore-headquartered Grab and the U.S. scooter-on-rent startup Lime. The investors in Lime include Uber and Google-parent Alphabet.
India’s Ola makes it to the list, with secured financial backing from SoftBank Group, Tiger Global Management, Matrix Partners India. However, it is one of the smallest auto and mobility sector compa..
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E-cigarette maker JUUL Labs, which was recently in the news for advertisements targeted at teenagers, is the highest valued consumer unicorn. Some of the other non-traditional entrants to the unicorn club include Zume Pizza, an automated pizza delivery restaurant, and Miniso, the Chinese low-cost retailer and variety store. Entrepreneurs tend to have an affinity for garages - and Apple and Google are not the only ones. BrewDog, a craft brewery founded in a garage in Scotland by two 24-year-olds, who initially took to selling their wares from the back of their van. BrewDog is currently worth USD 1.15 billion.https://public.tableau.com/views/consumerandretailunicorns/Dashboard1?:embed=y&:display_count=yes&publish=yes&:origin=viz_share_link
E-cigarette maker JUUL Labs, which was recently in the news for advertisements targeted at teenagers, is the highest valued consumer unicorn. Some of the other non-traditional entrants to the unicorn..
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Ten of the 11 companies on this list are based in the United States, indicating its dominance in information security. China’s Tongdun Technology, which is valued at USD 1 billion, is the only non-American cybersecurity unicorn. Tanium, Kaseya, and Cybereason take the top three slots. Tanium, valued at USD 6.7 billion, was founded by the father-and-son duo of David and Orio Hindawi, Iraqi Americans.
Ten of the 11 companies on this list are based in the United States, indicating its dominance in information security. China’s Tongdun Technology, which is valued at USD 1 billion, is the only non-Am..
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Peter Thiel-owned Palantir Technologies is the highest-valued data management focused on big data analytics. Like with cybersecurity unicorns, this list is also dominated by American companies, the only exceptions being Jusfoun Big Data and Alibaba-backed DT Dream. Other noteworthy firms on the list include Databricks, Mu Sigma, and Rubrik.
Peter Thiel-owned Palantir Technologies is the highest-valued data management focused on big data analytics. Like with cybersecurity unicorns, this list is also dominated by American companies, the o..
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India has two representatives on the list of e-commerce unicorns – Snapdeal and Shopclues. The former is valued at USD 7 billion, while the latter is worth USD 1.10 billion. The American online vendor Wish is the biggest e-commerce unicorn, valued at USD 11.20 billion. South Korea and Brazil are also represented, given their dynamic markets and healthy consumer spending patterns. The online Brazilian real estate rental marketplace QuintoAndar, which is backed by General Atlantic and the Softbank Group, is worth around USD 1 billion.
India has two representatives on the list of e-commerce unicorns – Snapdeal and Shopclues. The former is valued at USD 7 billion, while the latter is worth USD 1.10 billion. The American online vendo..
