WhatsApp's Business App Holds Massive Potential
WhatsApp now has 50 million users on its WhatsApp Business app. The Facebook (NASDAQ: FB) subsidiary launched the app about two years ago, and it accumulated about 5 million users within the first year. The app has exploded in use in India and Brazil over the past year, with 15 million and 5 million users in those countries, respectively.
Many businesses moved from the consumer app to the business app to take advantage of the unique tools available in WhatsApp Business, and with more than 2 billion monthly active users, more still could follow.
There are two core functions for WhatsApp Business: providing customer service and facilitating transactions. Facebook's monetizing the customer service side of the business through a paid API, which further encourages business-to-consumer interactions on the messaging app. On the transactional side, WhatsApp's hit some stumbling blocks, particularly around payments. But it's laying the groundwork now to take advantage when it gets the opportunity.
Source Fool.com
