developers keep more of their Play revenue, Instagram adds teen safety features, and we examine the global distribution of venture funding. This is your Daily Crunch for March 16, 2021.
The big story:on first $1M
Following a similar move by Apple, Google said that it would be reducing its fee from 30% to 15% for the first $1 million developers earn through Google Play annually. This differs slightly from Apple’s approach in that it applies to all developers — although the fee goes back to 30% for any money earned beyond that first .
“We’ve heard from our partners making $2 million, $5 million, and even $10 million a year that their services are still on a path to self-sustaining orbit,” wrote Google’s Sameer Samat. “This is why we are making this reduced fee on the first $1earned each year available to every Play developer that uses the Play billing system, regardless of size.”
The tech giants
Instagram adds new teen safety tools as competition with TikTok heats up — Instagram says it’s rolling out new safety features that will restrict adult users from contacting teens who didn’t already follow them.
Google’s Soli radar returns toon the new Nest Hub — We haven’t heard a peep from Project Soli since the technology was introduced with the Pixel in late-2019.
Startups, funding, and venture capital
Sure raises $100M at a $1.3B valuations, proving identity verification is hotter than ever — Socure uses AI andto verify identities.
Overwolf raises $52.5M for its platform to build, distribute and monetize in-game, user-generated content. The platform has 30,000 creators, 90,000 mods and add-ons, and 18across thousands of games.
Aiming to become the definitive source for, SafeGraph raises $45M. While plenty of companies data about physical locations, SafeGraph CEO Auren Hoffman said his startup is “one of the few companies to sell this data to data science teams.”
Advice and analysis from Extra Crunch
The global inequity in venture financing is staggering. There’s been a boom in Latin American and European fintechs and a general rise in VC activity in a host of, but the landscape remains imbalanced.
The NFT market is just getting started, but where is it headed? — Part one in a three-part series.
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Ford expands robotics research into a $75 million University of Michigan facility — Ford Motor Company will be embedding 100 of its researchers and engineers in a new robotics and mobility facility on the University of Michigan’s Ann Arbor campus.
Talking product-market fit with Sean Lane, whose company tore through 28 products to become a unicorn. Occasionally, it’s easy for startups to achieve so-called product-market fit, but more often, it’s a struggle.
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