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https://www.wsj.com/business/media/match-group-google-reach-binding-term-sheet-in-legal-battle-4decd5bcMatch’s brands will pay standard rates of 15% on subscriptions and 30% for a la carte purchase for in-app transactions processed through Google’s payment system.Match Group and Alphabet-unit Google reached a binding term sheet for a settlement regarding their claims against each other in their legal battle.
The online dating company said in a letter to shareholders that $40 million placed in escrow will be returned to Match and no other amount will be owed by the Match plaintiffs to Google. The parties agreed that by March 31, Match’s apps, which include Tinder and Hinge, will implement Google’s user choice billing.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.