ironSource Completes Tapjoy Acquisition, Increasing Monetization Opportunities for App and Game Developers and Expanding ironSource’s Scale in the Market | Business

TEL AVIV, Israel–(BUSINESS WIRE)–Jan 10, 2022–

ironSource (NYSE: IS), a leading business platform for the App Economy, today announced the closing of the acquisition of mobile marketing and monetization company Tapjoy. The acquisition continues to strengthen ironSource’s offering for app developers, with industry-leading tools for supporting the in-app and in-game economy, and a robust advertiser marketplace.

One of four acquisitions ironSource made in the past twelve months, the addition of Tapjoy’s technology will deepen the value developers get on the ironSource platform. Developers will now have increased revenue generation opportunities via greater access to advertiser demand actively competing for access to premium in-app inventory, as well as additional tools to enrich in-game economies.

ironSource has pursued a strategy of both organic and inorganic growth, with the Tapjoy acquisition following the closing of the Soomla, Luna and Bidalgo acquisitions in 2021. Together, these acquisitions have served to expand ironSource’s platform offering

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Bay City now accepting applications for small business pandemic relief grant program

BAY CITY, MI – A new grant program aimed at giving Bay City’s small businesses a boost with American Rescue Plan Act funding is now accepting applications.

The commission approved a resolution on Dec. 20, 2021 that put aside $300,000 out of Bay City’s total $31,076,578 ARPA funding pool to create a grant program to provide for small businesses that are struggling with the effects of the COVID-19 pandemic.

The program will be administered by the city’s economic development staff with assistance from the city’s fiscal services director, Bay Future, Inc., and the Bay Area Chamber of Commerce.

The city opened up the application process for interested business owners on Monday, Jan 10. Applications can either be submitted online or in-person at Bay City Hall at 301 Washington Avenue. Paper copies of the application are available at city hall and a printable version can be found here. Applications will be

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Apps Now Required to Report Business Payments Exceeding $600 Annually

  • Payment apps are now required to report business transactions that exceed $600 annually.
  • The new tax rule underscores one of the biggest advantages that governments see with digital payments: traceability. 
  • Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry. Learn more about becoming a client.

The news: Effective January 1, 2022, payment apps like PayPal, Venmo, and 

Cash App

 are required to report users’ business payments that exceed $600 in a calendar year to the Internal Revenue Service (IRS), per NBC News.

P2P mobile payment transaction volume will reach $785.19 billion in 2021

P2P mobile payment transaction volume will reach $785.19 billion in 2021.

Insider Intelligence

Providers need to give business owners a 1099-K tax form that breaks down commercial income received through the app if it meets the $600 threshold.

1099-K forms were previously only required for merchants with more than 200 transactions in a year exceeding $20,000 in total value. The updated

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Venmo, Cash App, PayPal to report transactions of $600 or more to IRS

New year, new tax laws. Starting in 2022, mobile payment apps like Venmo, PayPal, Cash App and Zelle are required to report business transactions totaling more than $600 per year to the IRS.

Before, the threshold was much higher — $20,000 — and you had to make a certain number of transactions. So what does this change mean for businesses?

When Venmo started, it was mostly used to split bills for things like dinner or utilities among friends and family.

Now, the platform is used by “hairdressers, dog walkers, financial consultants,” said Jonathan Medows, a CPA for independent contractors in New York City. About half his clients use digital payment platforms in lieu of checks, credit cards or cash.

“The old days of taking $20 and putting it in your pocket are long gone,” he said.

However, cash — and now apps — make it easier for people to illegally

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