Facebook Just Spent $1 Billion to Monetize Messaging
Facebook (NASDAQ: FB) has been taking small steps toward monetizing its messenger properties for years with the aim of providing tools to connect businesses to customers. It's adding a new tool to the box with the acquisition of Kustomer, a customer relationship management software start-up. Facebook will pay about $1 billion, according to The Wall Street Journal.
With 200 million businesses using various tools offered by Facebook every month, there's a massive opportunity to grow Kustomer and offer more monetized customer relationship tools to businesses.
Facebook's best effort to monetize its messaging apps has been through its WhatsApp Business. The app has quickly amassed 50 million users and has potential for a lot more. The app is mainly monetized through an API that allows other applications, like Kustomer, to connect with the WhatsApp messaging system.
Source Fool.com
