Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
MENLO PARK, Calif. — Facebook said on Monday it would buy customer service startup Kustomer, as the world's largest social network forays further into e-commerce.
Financial details of the deal were not disclosed.
The Wall Street Journal, which first reported about the acquisition, said the transaction valued Kustomer at $1 billion.
Kustomer allows businesses to aggregate customer conversations from various channels into a single-screen, and also to automate some of the responses to buyers. The firm already offers its services on Facebook Messenger and Instagram.
Earlier this year, Facebook launched Shops, a service that allows businesses to display and sell products across its platforms.
(Reporting by Eva Mathews and Munsif Vengattil in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila)
© Copyright Thomson Reuters 2020
