Facebook to buy customer service startup Kustomer

FILE PHOTO: The Facebook logo is displayed on a mobile phone in this picture illustration taken December 2, 2019. REUTERS/Johanna Geron/Illustration

(Reuters) – Facebook Inc said on Monday it would buy customer service startup Kustomer, as the world’s largest social network forays further into e-commerce.

Financial details of the deal were not disclosed.

The Wall Street Journal, which first reported about the acquisition, said the transaction valued Kustomer at $1 billion.

Kustomer allows businesses to aggregate customer conversations from various channels into a single-screen, and also to automate some of the responses to buyers. The firm already offers its services on Facebook Messenger and Instagram.

Earlier this year, Facebook launched Shops, a service that allows businesses to display and sell products across its platforms.

Reporting by Eva Mathews and Munsif Vengattil in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila

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