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Facebook buys Kustomer to expand its customer service tools
December 01, 2020
Facebook acquired Kustomer, a startup based with the purpose of disrupting the customer service industry with a new approach to providing retailers with better data and a greater unified image of users by using bringing together the various social media and other channels and longer history among them and the organization in question.
Terms are not being disclosed, but we’ve got showed with resources very close to the deal that it changed into for $1 billion. Reports of the deal (and alleged fee) were published in advance these days by way of the WSJ.
Kustomer co-based by means of CEO Brad Birnbaum and Jeremy Suriel (the two worked collectively across more than a few other places, such as Airtime and AOL and had sold a previous startup to Salesforce) had raised round $174 million in private investment from buyers that protected Coatue, Tiger Global Management, Battery Ventures, Redpoint Ventures, Cisco Investments, Canaan Partners, Boldstart Ventures and Social Leverage. It became remaining valued at $710 million, in keeping with estimates from PitchBook.