In this article

Evan Spiegel, CEO of SNAP Inc.
Stephen Desaulniers | CNBC

Snap CEO Evan Spiegel on Friday said the social media company is happy to pay Apple’s 30% commission rate on in-app transactions.

“We really feel like Snapchat wouldn’t exist without the iPhone and without the amazing platform that Apple has created,” Spiegel said on TechCheck. “In that sense, I’m not sure we have a choice about paying the 30% fee, and of course, we’re happy to do it in exchange for all of the amazing technology that they provide to us in terms of the software but also in terms of their hardware advancements.”

Spiegel’s comments come in stark contrast to those of business mogul Barry Diller, who ripped into Apple on Friday for the cut it takes of in-app transactions, saying his companies are “overcharged in a disgusting manner” by Apple.

“The idea that they actually justify it by saying, ‘We spend all this money protecting our little App Store,'” Diller said. “I mean, it’s criminal. Well, it will be criminal.”

Diller’s comments came on the same day that Apple CEO Tim Cook is testifying in an antirust case focused on the App Store brought by Epic Games, which makes the widely popular video game Fortnite.

Spiegel, however, said Apple has been a great partner for Snap. Spiegel also praised Apple’s decision to make changes in the company’s latest version of iOS to provide users with more privacy protections.

“We’re really aligned with them on the changes they’re making to help protect privacy,” Spiegel said. “And so far, the early investments we made starting almost 10 years ago to protect user privacy on our platform are really paying off.”

As for how those privacy changes are impacting Snap’s advertising business, Spiegel said the company has been working to help its advertising clients migrate onto Apple’s SKAdNetwork, which is used by the iPhone maker to help advertisers measure the efficacy of their ads.

“So far, that transition has gone smoothly for our business,” Spiegel said.

His comments come a day after Snap acquired British company WaveOptics for $500 million and after the company’s annual Snap Partner Summit. There, Snap announced a new version of its Spectacles augmented-reality glasses, new e-commerce features and a new tipping feature for creators to make money.

You May Also Like

Tax reporting proposal creates a defining moment for the crypto industry

Bitcoin resting on United States dollar banknotes. Nicolas Economou | NurPhoto |…

Apple’s new fix-it policy is a drop in the bucket for ‘right to repair’

In this article AAPL DE It was an exciting day at iFixit…

The iPhone 15 could get one of the biggest upgrades in years: A new charging port

In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Apple will…

‘India has a big role to play’: New Delhi is trying to turn the country into a chip powerhouse

The government of India’s Prime Minister Narendra Modi has looked to boost…