- Facebook Inc's FB acquisition of U.S. customer service startup, Kustomer, is likely to attract the EU antitrust probe after its initial review ends in Aug, Reuters reported.
- It expects the acquisition to boost WhatsApp, which noted a pandemic-induced demand surge.
- Facebook expects to gain a better product to sell businesses alongside their other services and tap the budding customer service industry leading to a newer revenue stream, TechCrunch reported.
- It becomes very vital considering the growing competition from TikTok and Snap Inc's SNAP Snapchat.
- Reuters had previously reported about possible scrutiny as the global regulators tighten rules over the Big Tech acquisitions to protect the smaller players.
- Price action: FB shares traded higher by 6.21% at $372.99 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
