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...
PayPal acquires Japan’s Paidy for $2.7B to crack the buy-now, pay-later market in Asia
PayPal Holdings, the U.S. fintech company, announced an acquisition of Paidy, a Japanese buy now, pay later (BNPL) service platform, for approximately $2.7 billion (300 billion yen), mostly in cash, to enhance its business in Japan. The transaction completion including the regulatory approval is expected...
Driven by live streams, consumer spending in social apps to hit $17.2B in 2025
The live streaming 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...
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...
African fintech OPay valued at $2B in SoftBank Vision Fund 2-led $400M funding
Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. The round, which marks the Fund’s first investment in an African startup, drew participation from existing investors like...
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