Facebook to Buy Customer Service Startup Kustomer for $1B

Facebook to Buy Customer Service Startup Kustomer for $1B

World’s largest social service network, Facebook, makes itself even larger!

In what could be termed as a hallmark of expansion, the indisputable leader in social networking has forayed into e-commerce as well with an intent to expand its customer base. With a view to offering unmatched but also paid services, Facebook has now reported a major acquisition pact with Kustomer, a startup co-founded by CEO Brad Birnbaum and Jeremy Suriel, offering services towards the assimilation of user conversations and chats from multiple channels into a single screen. 

Although the terms of this takeover have not been officially announced, sources confirm that the deal shall be close to 1 Billion USD. This pivotal move from the Social Media Giant comes in light of the automation drive wherein many corporates have boarded the technology platforms for official chats and conversations on a day-to-day basis. Facebook has garnered massive revenue during the pandemic, and this kind of nuptial will only add colors to the media conglomerate’s market cap. The New York-based firm already has FB Messenger, Whatsapp, and Instagram services integrated on its platform. 

The user base of Facebook currently stands at no less than 175 billion, and so a few more billion customers getting added come as no surprise at all to the industry. Already Facebook has got a lot of traction to vide its e-com advertising initiatives, one of them being ‘Shops,’ that enables corporates to demonstrate and trade goods and services across Facebook.

All said and done, this acquisition will open more doors of opportunities as Facebook remains no more just a chit chat or meeting haven app for social networking but seamlessly expands as an industrial and corporate communication hub as well. Not restricting itself to some additional app features for businesses, Facebook has close-knitted the world and e-com together in the same fabric of communication barter.

This move has augmented the role of agents as well as other channel partners aligning them all on one single platform for all their requirements emerging as an “OmniChannel” in CRM, i.e., Customer Relationship Management. 

With Facebook now expanding to this level, the world would be a next-door global village!

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Mary Conn

Mary Conn has been a news writer for last 10 years. Recently she joined FinanceThrive team as a news editor. She regularly contributes in-depth news articles of finance industry covering personal & government financing, investment, business, economy and stock market.

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