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

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

A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, on May 8, 2019. (Photo: REUTERS/Paresh Dave)

Alphabet'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 per cent from 20 per cent, CNBC said, citing a person familiar with the matter.

"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 US$1 million they earn in revenue in a year.

Source: Reuters

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