Facebook Acquires New $1 Billion Startup

Facebook buys innovative startup: Kustomer

2
Facebook-Acquires-New-USD1-Billion-Startup
Contact Centre

Published: December 8, 2020

Rebekah Carter

Facebook, a company well-known for investing in some of the most transformative startups in the world, recently revealed that it would be purchasing a new company. At the end of November, Facebook announced the acquisition of a pioneering customer relationship management startup, Kustomer. Although the full details of the acquisition aren’t available, the business was valued at just over $1 billion, according to sources.

Kustomer provides customer service teams with better insights and a more unified view of the people that they’re connecting with. The next-gen CRM solution could be a powerful tool on Facebook’s belt, especially as more companies use tools like Facebook Messenger and WhatsApp for customer conversations.

 An Interesting Acquisition for Facebook

Though purchasing an innovative company is nothing new for Facebook, it’s more common for the company to focus on consumer-centric businesses, like Giphy, and WhatsApp.

However, the acquisition of Kustomer could be an interesting step in the right direction for Facebook if it wants to increase its appeal with business leaders. The purchase of Kustomer should mean that the businesses using Facebook’s communication tools now will be able to offer better customer service going forward.

Facebook isn’t alone in its decision to purchase a company that might help with its customer experience strategy. Snap also purchased Voca.ai earlier in November, a company known for creating AI voice agents for the contact centre.

According to Facebook, today’s companies are adjusting to an evolving online environment, where new texts and messages are increasingly appearing at the heart of customer conversation. According to a blog post from the Facebook team, around 175 million people contact companies through WhatsApp alone.

Facebook recently announced various API updates for Messenger and WhatsApp that allow companies to further integrate new tools into their strategy for communications with customers, and Kustomer is a powerful progression in this space.

Driving Better Customer Experiences

As an omni-channel CRM platform, Kustomer brings conversations from multiple channels into a single space, while helping businesses to automate the repetitive tasks that prevent them from focusing their attention on delivering high-quality customer interactions. Facebook is going to provide Kustomer with the resources required to scale at a massive level, so that it can continue to drive new tools that delight customers.

Facebook noted that the acquisition of Kustomer is just one of the important steps that it’s taking towards a better focus on customer service and engagement. The social media company plans to continue supporting various CRM solutions alongside Kustomer, so that businesses can use the platform that appeals most to them with the Facebook messaging ecosystem.

However, the Facebook team says that they’re excited to see what the future might hold with Kustomer in tow.

 

CpaaSMergers and AcquisitionsOmni-channel
Featured

Share This Post