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

by Mike Robinson

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© Reuters. FILEPHOTO: This sign was pictured at the Google office in Mountain View (California), U.S.A, on May 8, 2019. REUTERS/Paresh Dave/File Photo

(Reuters) – Alphabet (NASDAQ:) Inc’s Google will cut down on the amount of revenue share it keeps when customers buy software from other vendors on its cloud marketplace, CNBC reported on Sunday.

CNBC reported that the Google Cloud Platform will reduce its revenue share from 20% to 3%, according to CNBC, citing an individual familiar with this matter. https://cnb.cx/2XZp7ep

“Our goal is to provide partners with the best platform and most competitive incentives in the industry,” a Google spokesperson told CNBC in an email. We can confirm that the Marketplace fees structure has been changed and will have additional information soon.

Reuters asked Google not to comment.

Google cut its service fee for developers using the app store earlier this year by half for the first $1,000,000 they generate in revenue per year.

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