Facebook Purchased Packagd to Bolster Transactions on the Platform
Daniel Johnson — January 6, 2020 — Business
References: about.fb & mobilemarketer
Facebook recently acquired Packagd, which is a startup company that specializes in video shopping. A spokesperson for Facebook stated that the company is, "exploring ways to let buyers easily ask questions and place orders within a live video broadcast." The ability to make buy items on video content streamlines the purchasing process for users on the platform and it could be a popular option for Facebook users in the future.
Facebook's acquisition of Packagd will help the company to build video shopping capabilities for the platform. Previously Packagd worked with YouTube in a similar capacity. Additionally, the acquisition signifies a new direction that Facebook is taking. The social network appears to be prioritizing e-commerce and transactions on the platform. This could help Facebook obtain additional revenue sources outside of digital ads.
Image Credit: Shutterstock
Facebook's acquisition of Packagd will help the company to build video shopping capabilities for the platform. Previously Packagd worked with YouTube in a similar capacity. Additionally, the acquisition signifies a new direction that Facebook is taking. The social network appears to be prioritizing e-commerce and transactions on the platform. This could help Facebook obtain additional revenue sources outside of digital ads.
Image Credit: Shutterstock
Trend Themes
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Video Shopping on Social Media — The integration of shopping features into social media video content presents an opportunity to engage users with more interactive and personalized shopping experiences.
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Live Video Broadcasting — Integrating live video broadcast with e-commerce creates novel and innovative ways to reach customers and generate revenue.
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Social Media E-commerce — Facebook's foray into video shopping marks an emerging trend of social media platforms prioritizing transactions and e-commerce capabilities.
Industry Implications
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Social Media — Social media platforms like Facebook are well-positioned to integrate video shopping and e-commerce capabilities.
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E-commerce — The integration of video shopping and live broadcasts with e-commerce presents a new avenue for generating revenue and reaching customers.
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Marketing and Advertising — The integration of video content and e-commerce presents new opportunities for marketing and advertising products and services on social media platforms.
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