Facebook Buys CRM Startup Company ‘Kustomer’

Facebook on Monday announced the acquisition of Kustomer, which is a startup of customer relationship management.

The deal cost just over $ 1 billion, according to a source familiar with the matter.

CRM And Facebook

CRM tools help clients manage their customer communications by phone, email, text messages or direct messages on specific applications, such as WhatsApp or Messenger.

Finding a company with software like Kustomer is not uncommon on Facebook. In the past, Facebook has mainly targeted consumer companies, such as the gif company catalog in May and the Spanish cloud gaming company PlayGiga in December 2019. These findings often serve as a basis for building features for Facebook users.

By bringing Kustomer into the fold, Facebook will be providing small businesses that use their app to advertise and sell goods and other features to ban the sale of social networking services. This should be seen as leading these businesses to spend more on Facebook ads. That’s the key to the company, which makes up about 99% of revenue from advertising.

About Kustomer

Kustomer is based in New York and was established in 2015. The company has raised an estimated $ 173.5 million, according to Crunchbase. JPMorgan served as the sole advisor to Customer on the contract.

Kustomer isn’t a ticketing system. It’s a customer service CRM platform for managing high support volume effortlessly.

Don’t settle for ordinary customer service in extraordinary times.

Here’s the message of the team at Kustomer (The Kustomer Krew)

Perfecting customer experiences requires a diverse mix of talent and perspectives. We need to understand all our current and potential customers’ challenges and find ways to help them build a better experience for all.

Each department strives to be the best at its craft, yet we are all here to win as One Krew. We push forward and encourage each other to grow and innovate, moving as quickly as we can because we have a lot of people to help. It’s not just a job – we do it for every customer out there and for each of our teammates. We’re excited that you’re considering what it might be like to be here.

Synopsis

Facebook on Monday announced the acquisition of Kustomer, which is a startup of customer relationship management.

By bringing Kustomer into the fold, Facebook will provide small businesses that use their app to advertise and sell goods other features to block sales through social networking services.

The deal cost just over $ 1 billion, according to a source familiar with the matter.