Facebook Kustomer, is a startup company that specializes in customer service platforms that have been acquired by Facebook. The acquisition, although not disclosed, was said to be for $1 billion. On Monday, Facebook made an announcement, that they were acquiring Kustomer, a startup company that specializes in customer service platforms. As reported by Wall Street Journal, the deal was just over $1 billion.
According to News agencies, the acquisition of a business software company is part of Facebook’s push in advertising and selling goods via their social media network. The New York-based Kustomer software was founded in 2015 and has raised about $175 million, according to Crunchbase.
The startup’s software creates a single-screen interface for businesses to effectively manage their online conversations with customers and automate some interactions using chatbots. Thus, the acquisition comes as Facebook makes a big push into online shopping.
As regards the future of Kustomer, it looks like Facebook will be exercising a light touch on the company. According to Facebook, it plans to support Kustomer’s operations, by offering the resources it needs to scale its business, improve as well as innovate its product offering, and delight its customers. Facebook also stresses that businesses will not have to switch to Kustomer, in order to manage their online communication tools. The company said “businesses of all sizes and across all industries to know the value of messaging and having a vibrant partner ecosystem is important in providing customers with different options
Insight on Facebook Kustomer
This deal will enable Facebook to scale up its WhatsApp Business service, as more companies flock to the instant messaging app to answer customer questions during the Coronavirus pandemic.
Facebook, has doubled down on its e-commerce push, stressing that it would help in generating ad revenue as user growth slows.
The acquisition of this five-year-old Kustomer comes as the leading social network keeps weaving e-commerce into offerings, especially its WhatsApp and Messenger messaging services.
According to WhatsApp Chief Operating Officer Matt Idema, over 175 million people contact businesses through WhatsApp on a daily basis, and the number is still growing.
With the complementary capabilities of Kustomer, we will be able to help more people benefit from customer service, which is faster, richer, and available whenever and however they want it. Be it through phone, email, text, web chat, or messaging. As stated by Kustomer chief executive Brad Birnbaum of uniting Facebook.
“In particular, ‘there will be need to improve the messaging method which is widely used by businesses and customers.
According to the company, Kustomer, which is based in New York, will continue to service its existing clients after co-founders Birnbaum and Jeremy Suriel and the rest of the startup’s team become part of Facebook.
The Kustomer platform is designed to offer software tools in helping business representatives better attain customer’s queries or concerns.
Facebook, will offer resources for Kustomer to innovate, as well as grow according to Idema and Levy.
This way, more people will benefit from customer service which is faster, richer, and available whenever and however they want it, as stated by the Facebook and WhatsApp executives.
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