Facebook has announced the acquisition of customer service startup Kustomer as the social media giant sets its eyes further foray into e-commerce. However, financial details of the deal were not disclosed.
Kustomer is a startup founded with the aim of disrupting the customer services industry with a new approach to providing agents with better data and a more unified picture of users by bringing together the many social media and other channels and longer history between them and the company in question.
The Wall Street Journal, which first reported about the acquisition, said the transaction valued Kustomer at $1 billion.
Cofounded by CEO Brad Birnbaum and Jeremy Suriel, Kustomer's investors include Coatue, Tiger Global Management, Battery Ventures, Redpoint Ventures, Cisco Investments, Canaan Partners, Boldstart Ventures and Social Leverage and had raised around $174 million. It was last valued at $710 million, according to estimates from PitchBook, reported TechCrunch.
