Meta Announce strategic alternatives for Customer business-software firm 2023

(Reuters) – Meta Platforms Inc. announced on Friday that it is evaluating strategic alternatives for the customer service business Kustomer, which it acquired through a process that concluded in the previous year.

“We are now evaluating strategic options for Kustomer and will continue to support Kustomer’s product and customer base during this process,” the owner of Facebook said in an emailed statement to Reuters, omitting more specifics about the possibilities.

Friday’s Wall Street Journal was the first to reveal that Meta intends to offload Kustomer in order to refocus on its main business. The Newspaper cited the firm and individuals familiar with the anticipated transaction.

Kustomer provides CRM software that allows businesses to engage with customers via phone, email, SMS, WhatsApp, Instagram, and other channels. During the COVID-19 epidemic, its utilisation soared.

Meta has decided to focus on its fastest growing corporate messaging solutions, including the monetization possibilities for WhatsApp, in light of the firm’s “efficiency initiatives,” the company stated.

(Reporting by Yana Gaur, Rishabh Jaiswal, and Anirudd Saligramas from Bengaluru; Editing by Diane Craft and William Mallard)

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