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Facebook to buy customer service startup Kustomer for $1 billion – Business News , Firstpost



Kustomer helps its customers automate and align all customer help associated points into one stream.

Facebook is buying a 5-yr-outdated startup Kustomer. It is a New York-based startup co-based in 2015 by CEO Brad Birnbaum and Jeremy Suriel. The two are former staff of Airtime, AOL, and former house owners of startup Salesforce. The firm creates a platform for firms to handle customer service over social media apps like Facebook Messenger and Instagram. The startup helps its customers automate and aligns all customer help associated points into one stream. As reported by Wall Street Journal, Facebook can be buying Kustomer for $1 billion. 

In the final monetary quarter, Kustomer raised round $174 million in personal funding from traders Coatue, Tiger Global Management, Battery Ventures, Redpoint Ventures, Cisco investments, Canaan Partners, Boldstart Ventures, and Social Leverage. According to Pitchbook, Kustomer’s final valuation is $710 million. 

Facebook has currently been branching into all types of e-commerce. They have been investing and constructing quite a few options that permit companies to department into social media seamlessly. Recently, Facebook-owned Instagram introduced a characteristic the place individuals can be ready to order meals within the app itself. Along with this, present card administration has additionally been seamlessly built-in with the social media platforms.

(Also learn: Salesforce.com is shopping for work-chatting service Slack for $27.7 billion)

Earlier this yr, Facebook launched Shops, a service that allows companies to show and promote merchandise. According to WhatsApp COO Matt Idema and Facebook VP of Business Products Dan Levy, there are virtually 175 million individuals who contact companies by way of WhatsApp every day. With the assistance of Kustomer, Facebook can be ready to combine a single channel of customer service all through all their e-commerce platforms. 

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