Sanjeev Bikhchandani, the founder of Info Edge, announced that he had gotten a notification from Google. “We don’t have any outstanding bills with Google,” he stated.
Giant of the tech industry Google India has once again gained attention for its app platform today, March 1. However, Google is the one taking action this time around rather than CCI or the Supreme Court. Ten businesses, including BharatMatrimony, Info Edge, and other apps pertaining to marriage and dating, have been ordered to be removed from the Google Play Store by Google India.
Due to these businesses’ failure to pay fees for the App Store platform, Google has started legal action. Let us inform you that Google levies fees from developers ranging from 11 to 26 percent in exchange for the provision of app services on its platform. This price was approximately thirty percent at first, but later some corporations said it was an abuse of Google’s monopoly, and the case went all the way to the Supreme Court
Google hasn’t provided any information in this area, though. The two businesses listed above are among those to which Google has sent the notification, according to sources cited by Reuters.
Sanjeev Bikhchandani, the founder of Info Edge, announced that he had gotten a notification from Google. “We don’t have any outstanding bills with Google,” he stated. Every payment has been made on schedule.
Founder of Matrimony.com Murugavel Janakiraman told Reuters that “all the top matrimonial services will be removed” as a result of this move.
Matrimony.com has big business
The company’s official website states that it offers mobile apps and websites for dating and marriage-related services. This company offers services to consumers through apps available in over 15 languages.
Following Google’s notification, the company’s stock began to decline. During intraday trading, its shares, which were trading at 2.7%, dropped to 1.5%. Later on, though, things began to improve once more, and by 3:04 PM, the company’s shares were trading at 547.05, up 2.29 percent.
According to the annual reports, the company, which has a market value of about Rs 2,300 crore, offered investors a return of about 6% in a single year. In the last six months, its shares have decreased by almost 15% at the same period.
What is the condition of Info Edge?
It’s interesting to note that Info Edge runs the Indian version of Matrimony.com, called Jeevansathi. This business also runs the job- and education-related websites naukri.com and Shiksha.com.
At 3:14 pm today, its shares were up 0.33% on the NSE, trading at Rs 5,285 in the afternoon. During the intraday, its shares had reached Rs 5,332.45.