All posts tagged: 13.7M

Apple pays .7m fine to Russia in antitrust lawsuit

Apple pays $13.7m fine to Russia in antitrust lawsuit

Apple has paid a fine of $13.65 million (1.2 billion rubles) for reportedly violating anti-monopoly laws in Russia, the country’s FAS antitrust agency has said. In a statement on the FAS agency website, Russian authorities said that the tech giant’s App Store rules prohibit iOS application developers from informing customers within the application about the possibility of paying for purchases outside the App Store. They also prohibit the use of alternative payment methods. According to Reuters, Apple previously “respectfully disagreed” with the ruling that its distribution of apps through its iOS operating system gave its own products a competitive advantage. It is reported that on January 19, Apple paid a fine of 1,177,988,700 rubles, with the Federal Antimonopoly Service stating that the funds have been transferred to Russia’s federal budget. In February 2023, the FAS said that Apple paid another $12.1 million fine in another antitrust case, which accused Apple of abusing its dominant position in the mobile apps market. Apple halted product sales in Russia following the country’s invasion of Ukraine, saying the company …

Medallion, a platform for artists to connect directly with fans, raises .7M

Medallion, a platform for artists to connect directly with fans, raises $13.7M

Medallion is a platform for artists to have a dedicated digital hub for promoting album releases, tour dates and merch drops, as well as selling digital collectibles and sharing exclusive content to foster deeper connections with fans. The company announced today that it closed $13.7 million in Series A funding, co-led by Dragonfly and Lightspeed Faction. Musicians are increasingly searching for direct ownership in their own communities and avoiding third-party platforms where interactions with fans are complex to manage. From a fan perspective, although there are plenty of ways to follow and connect with artists, these online interactions can be minimal. “While streaming has opened up access to music and social media and created new channels for direct distribution, the full potential of direct artist-to-fan connections has not been realized,” Matt Jones, co-founder and CEO of Medallion said. “Medallion’s artist-centric approach and emphasis on digitally native fan experiences is helping usher in a new, transformative period for artists.” With this impressive chunk of cash in tow, Medallion wants to address what many artists believe to …