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Google to slash amount it keeps from sales on its cloud marketplace- CNBC

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Sept 26 (Reuters) - Alphabet Inc's Google will cut down on the amount of revenue share it keeps when customers buy software from other vendors on its cloud marketplace, CNBC reported on Sunday.

The Google Cloud Platform is cutting its percentage revenue share to 3% from 20%, CNBC said, citing a person familiar with the matter. https://cnb.cx/2XZp7ep

"Our goal is to provide partners with the best platform and most competitive incentives in the industry," a Google spokesperson told CNBC in an email. "We can confirm that a change to our Marketplace fee structure is in the works, and we'll have more to share on this soon."

Google did not respond to a Reuters request for comment.

Earlier this year, Google cut the service fee it charges developers on its app store by half on the first $1 million they earn in revenue in a year. (Reporting by Juby Babu in Bengaluru; Editing by Daniel Wallis)

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