Updated March 2nd, 2024 at 12:31 IST

Info Edge shares fall 2.3% after Google removes apps

InfoEdge mobile apps, naukri.com, 99acres.com, and shiksha.com were delisted from Google Play Store.

Reported by: Business Desk
Info Edge shares fall 2.3% after Google removes apps | Image:LinkedIn
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Info Edge shares dip: Info Edge shares dipped 2.3 per cent to an intraday low of Rs 5160.20 apiece on the Bombay Stock Exchange (BSE) during the special trading session on Saturday, March 2, 2024.

This comes after the company confirmed that its popular mobile applications, such as naukri.com, 99acres.com, and shiksha.com, have been delisted from the Google Play Store. 

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This action comes as part of Google's recent crackdown on apps, including prominent matrimonial services, that have allegedly evaded service fee payments to the tech giant.

Despite claims of timely payment compliance, as asserted by Info Edge founder Sanjeev Bikhchandani, the removal of these apps underscores the broader challenges faced by companies in dealing with the policies of major tech platforms.

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Bikhchandani stressed the need for a strategic response, advocating for the establishment of a digital infrastructure akin to UPI and ONDC for app distribution to ensure fair and transparent practices in the digital ecosystem.

Google's move follows its assertion that several companies, including ''many well-established'' entities, have failed to fulfil their financial obligations despite benefiting from its platform.

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In a regulatory filing with the Bombay Stock Exchange (BSE), Info Edge Ltd expressed surprise over Google's action, highlighting the lack of prior notice. The company reassured users that those who already have its apps installed can continue using them. Similarly, users accessing these services through other platforms or web versions remain unaffected.

The company stated its intention to collaborate with Google to resolve the issue swiftly and ensure the reinstatement of its mobile apps on the Play Store.

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The dispute stems from Google's enforcement of a fee ranging from 11 per cent to 26 per cent on in-app payments, following an order by the government's anti-competition body to abolish its earlier charging structure of 15 per cent to 30 per cent.

(with PTI inputs)

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Published March 2nd, 2024 at 12:23 IST