202121 Oct

Bumble, Duolingo lead rally in shares of app developers after Google slashes subscription fees

Summary

Google and Apple have both been slashing fees amid pressure from lawmakers and regulators over the power that the dominant app stores hold within their developer ecosystems. Duolingo, whose app helps customers learn foreign languages, rose 11% as of late afternoon Thursday. Roblox rose about 6% and mobile game developer Zygna initially spiked on the news before settling down to a gain of about 1%. Googles move raised the possibility that Apple could decide to match its rival as the two app stores often have similar policies and take rates. Apples store is generally considered more lucrative for developers than Google Play and most companies distribute software through both.

Source: Cnbc

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