South Korean antitrust regulator fines Google $177M for abusing market dominance

The Korea Fair Trade Commission (KFTC) said on Tuesday it fined Google $177 million for abusing its market dominance in the Android operating system (OS) market. The U.S. tech company has restricted market competition by prohibiting local smartphone makers like Samsung Electronics and LG Electronics from customizing their Android OS, through Google’s anti-fragmentation agreements (AFA), […]

Epic Games asks Apple to reinstate Fortnite in South Korea after new law

Epic Games has asked Apple to rejoin its Fortnite developer account in South Korea as the U.S. game maker plans to re-release Fortnite on iOS in South Korea, offering both Epic and Apple payments side-by-side, it said in a tweet. Epic has asked Apple to restore our Fortnite developer account. Epic intends to re-release Fortnite […]

Driven by livestreams, consumer spending in social apps to hit $17.2B in 2025

The livestreaming boom is driving a significant uptick in the creator economy, as a new forecast estimates consumers will spend $6.78 billion in social apps in 2021. That figure will grow to $17.2 billion annually by 2025, according to data from mobile data firm App Annie, which notes the upward trend represents a five-year compound […]

Report: India may be next in line to mandate changes to Apple’s in-app payment rules

Summer is still technically in session, but a snowball is slowly developing in the world of apps, and specifically the world of in-app payments. A report in Reuters today says that the Competition Commission of India, the country’s monopoly regulator, will soon be looking at an antitrust suit filed against Apple over how it mandates […]

South Korea passes ‘Anti-Google law’ bill to curb Google, Apple in-app payment commission

After a number of delays, South Korea’s National Assembly today voted to approve the passage of its “Anti-Google law.” Nicknamed after the search giant but more wide-ranging, the law will prevent Google and Apple from forcing developers to use their in-app billing systems when building apps for their two market-dominating app stores. This is the […]

Apple lowers commissions on in-app purchases for news publishers who participate in Apple News

Apple today is launching a new program that will allow subscription news organizations that participate in the Apple News app and meet certain requirements to lower their commission rate to 15% on qualifying in-app purchases taking place inside their apps on the App Store. Typically, Apple’s model for subscription-based apps involves a standard 30% commission […]

This Week in Apps: OnlyFans bans sexual content, SharePlay delayed, TikTok questioned over biometric data collection

Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry continues to grow, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year also spent 3.5 trillion minutes using apps on Android devices […]

Viva Republica, developer of Korean financial super app Toss, raises $410M at a $7.4B valuation

Viva Republica, the Seoul-based fintech company behind Toss, a super app with more than 40 financial services, announced today it has raised $410 million at a post-money valuation of $7.4 billion. The new funding was led by Alkeon Capital, an American investment firm, and included participation from new investors like Korea Development Bank, and returning […]

Korean proptech startup Dongnae gets $4.1M seed extension led by NFX

The real estate market in South Korea is very fragmented, which means people often have to work with dozens of brokers before they find a new home. Founded in 2020 by a former WeWork executive, Dongnae wants to create a centralized base for brokers, serving as a multiple listing system (MLS). Since its first seed […]

SoftBank Vision Fund 2 invests $160M in media localization provider Iyuno-SDI Group

Iyuno-SDI Group, a provider of translated subtitles and other media localization services, announced today it has raised $160 million in funding from SoftBank Vision Fund 2. The company said this makes the fund one of its largest shareholders. Iyuno-SDI Group was formed after Iyuno Media Group completed its acquisition of SDI Media last month. In […]