Saturday, March 11, 2023
By
Reuters

Meta explores strategic alternatives for Kustomer business-software firm

"We are currently exploring strategic alternatives for Kustomer," Facebook owner says

By
Reuters
The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. — Reuters
The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. — Reuters

Meta Platforms said on Friday it is exploring strategic alternatives for customer service company Kustomer which it acquired in a process ending last year.

"We are currently exploring strategic alternatives for Kustomer and will continue to support Kustomer's product and customer base throughout this process," the Facebook owner said in an emailed statement to Reuters, without providing additional details on the alternatives.

The Wall Street Journal, which first reported the news on Friday, said Meta is planning to divest Kustomer as it looks to looks to refocus on its core business, citing the company and people familiar with the planned deal.

Kustomer sells CRM software for businesses to communicate with consumers by phone, email, text messages, WhatsApp, Instagram and other channels. It had seen usage soar during the COVID-19 pandemic.

Meta has made the decision to focus on its fastest-growing business messaging offerings, including the monetization opportunity for WhatsApp in light of the company's "efficiency efforts," the company said.