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Facebook lifts the lid on how it's making money from WhatsApp

April 28, 2021. Summarized by summa-bot.

Compression ratio: 22.1%. 1 min read.

Since Facebook paid a whopping $19 billion to buy WhatsApp in 2014, investors have wondered how it will cash in on the acquisition, especially after the company walked back a controversial plan to sell ads on the app.

New York (CNN Business)Since Facebook paid a whopping $19 billion to buy WhatsApp in 2014, investors have wondered how it will cash in on the acquisition, especially after the company walked back a controversial plan to sell ads on the app.

Businesses that use WhatsApp to communicate with customers and conduct transactions — a group considered key to the app's future — have since 2017 been able to purchase ads on Facebook and Instagram that include a button allowing users to switch to WhatsApp and initiate a conversation with that business.

It's also launching a new feature: business users will now be able to start creating such advertisements directly from WhatsApp Business app, which wasn't possible before, making the ad buying process more seamless.

The company also reported an average of nearly 3. 5 billion people using its family of apps, including Facebook, Instagram and WhatsApp, monthly as of March 31, an increase of 15% from the same period in the prior year.

by summa-bot

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