For $1 billion, Facebook acquires customer service platform Kustomer

CIOReviewIndia Team | Tuesday, 01 December 2020, 04:13 IST

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For $1 billion, Facebook acquires customer service platform Kustomer

For a reported sum of $1 billion, Facebook has acquired a startup specialising in customer-service platforms and chatbots - Kustomer.  In a private funding round,  Kustomer was last valued at $710 million. 

 

However, Facebook has stated that Kustomer businesses will own their data that are coming from interactions with their customers. 

"Our goal with Kustomer is simple: to give businesses access to best-in-class tools that deliver excellent service and support," said Matt Idema, COO, WhatsApp.

"To that end, we recently announced several API updates for WhatsApp and Messenger, allowing for further integration into our partners' tools and faster onboarding to help businesses manage their communications with customers," Idema said in a statement.

Businesses will have the option to use their data at Kustomer for their own marketing purposes, while Facebook will not automatically use Kustomer data to inform the ads that a user sees. 

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