Match Plaintiffs And Google Inform Court That They Have Reached Binding Term Sheet For Settlement Of Their Respective Claims
Portfolio Pulse from Benzinga Newsdesk
Match Group and Google have reached a settlement in their lawsuit, with the $40 million in escrow being returned to Match Group. No further amounts will be owed by Match to Google for claims in the lawsuit until December 31, 2023. By March 31, 2024, Match Group's apps will implement Google's User Choice Billing, with standard rates of 15% on subscriptions and 30% on à la carte transactions for in-app transactions processed through Google's payment system, and 11% on subscriptions and 26% on à la carte transactions for in-app transactions processed through Match's payment systems.
October 31, 2023 | 8:56 pm
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NEGATIVE IMPACT
Match Group has reached a settlement with Google, which will see the $40 million in escrow returned to Match. Match's apps will implement Google's User Choice Billing by March 31, 2024, potentially increasing its costs for in-app transactions.
The settlement will result in Match Group's apps implementing Google's User Choice Billing, which could potentially increase Match's costs for in-app transactions. This is likely to have a negative impact on Match's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Google has reached a settlement with Match Group, which will see Match implement Google's User Choice Billing by March 31, 2024. This could potentially increase Google's revenue from in-app transactions.
The settlement will result in Match Group's apps implementing Google's User Choice Billing, which could potentially increase Google's revenue from in-app transactions. This is likely to have a positive impact on Google's stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80