Facebook acquired 'Packagd' to Help Boost In-Stream Buying Options
Online shopping made easier, all thanks to Facebook and "Packagd"... wondering and want to know how exactly? Well! its great news, for users and business on networking platform – Facebook, who acquired “Packagd”
The social media company is working with "Packagd" to create a feature that will enable users to make purchases while watching live video broadcasts and it was purchased to help build a new live shopping feature inside its Marketplace product.
Start-up “Packagd” was comprised of a five-person team founded by Eric Feng, Nick Chang, and Kai Ju Liu.
Before the acquisition, “Packagd” was developing a shopping product for YouTube videos.
Facebook did not announce the acquisition. However, it is believed that most of the “Packagd” team joined Facebook to work on a project for Facebook Marketplace. This project would allow users to make purchases while watching live broadcasts.
A Facebook spokesperson stated in a statement via Bloomberg “…As we’ve shared in the past, we’re exploring ways to let buyers easily ask questions and place orders within a live video broadcast.”
According to BusinessReport.com “…Facebook has tried to take advantage of e-commerce for years without much success, though its Marketplace product -- a Craigslist-like feature for buying and selling used goods - has nearly one billion monthly users and launched just three years ago.”
Facebook made waves earlier this year via rolling out the in-app checkout for shopping on Instagram, to monetize on the image-sharing app's popularity as a destination for browsing fashion and beauty products. Instagram has also said that shopping will be a key focus in 2020, and recently added the ability for users to buy directly from brands inside the app.
All in all shopping and e-commerce is becoming easier day by day and hopefully in 2020, it will reach new heights in terms of sales through Facebook.
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