Meta Platforms said on Tuesday it had closed its acquisition of Kustomer, a US customer service startup, after winning conditional EU antitrust approval for the deal last month.
The transaction was originally scheduled to take place in November 2020, but it was postponed owing to regulatory scrutiny, including a full-scale inquiry by the European Commission.
The investigation was launched in response to regulatory worries on both sides of the Atlantic that a large corporation’s startup buying binge could be construed as “killer acquisitions” aimed at suffocating budding competitors.
After promising to provide rivals free access to its messaging channels for ten years, Meta, formerly known as Facebook, received EU clearance. Businesses may engage with customers via phone, email, text messaging, WhatsApp, Instagram, and other channels thanks to Kustomer’s CRM software. Its takeover would help Facebook build up its instant-messaging software WhatsApp, whose usage has skyrocketed during the COVID-19 pandemic
WhatsApp has secured arrangements with commerce partners in countries such as Indonesia and India, and is developing a money-transfer feature within the app in the aim of preventing users from switching to another platform to do business.
Meta has come under significant regulatory investigation in recent years. Meta is being sued by the Federal Trade Commission, which wants it to split off its WhatsApp and Instagram purchases. The protracted dispute has generated concerns that Meta, which has arguably made some of the best tech purchases in history, may have difficulty closing future mergers.
Kustomer creates software that allows companies to handle client messages from numerous providers from a single dashboard. That’s a key part of Meta’s strategy for profiting from its two messaging programs, WhatsApp and Messenger. Meta hopes that businesses will utilise WhatsApp, which has over 2 billion monthly users, instead of email or 1-800 lines to communicate with customers.
CRM software (customer relationship management software) is a tool that helps your company provide a unique and seamless experience for its customers while also building stronger relationships by providing a complete picture of all customer interactions, tracking sales, organising and prioritising opportunities, and facilitating collaboration among various teams.
WhatsApp has secured arrangements with commerce partners in countries such as Indonesia and India, and is developing a money-transfer feature within the app in the aim of preventing users from switching to another platform to do business.
In recent years, Meta has been the subject of increased regulatory scrutiny. Meta is being sued by the Federal Trade Commission, which wants it to split off its WhatsApp and Instagram purchases. The protracted dispute has generated concerns that Meta, which has arguably made some of the best tech purchases in history, may have difficulty closing future mergers.