Facebook just acquired customer service startup Kustomer, which provide chatbots to startups to manage their online conversations with customers. First reported by The Wall Street Journal. However, Facebook has not revealed any numbers on this deal, the startup was valued at approximately $1 billion at the time of today's deal.
Kustomer was co-founded by CEO Brad Birnbaum and Jeremy Suriel which raised around $174 million in private funding from investors that included Coatue, Tiger Global Management, Battery Ventures, Redpoint Ventures, Cisco Investments, Canaan Partners, Boldstart Ventures and Social Leverage.
“Facebook plans to support Kustomer’s operations by providing the resources it needs to scale its business, improve and innovate its product offering, and delight its customers,” facebook said. “We want businesses of all sizes and across all industries to discover the value of messaging — and having a vibrant partner ecosystem is critical in providing our customers with choices.” facebook added.
Facebook aims to provide customer services to businesses running on its platforms with this acquisition. Facebook also recently launched the 'Shops' feature to allow businesses to turn their Facebook and Instagram pages into online stores.