Wall Street analysts had projected revenue of $23.7 billion. It posted earnings per share of $3.30, up 93% year-over-year, on revenue of nearly $26.2 billion. The company reported total quarterly advertising sales of $25.4 billion, up 46% from the same period in the prior year. Zuckerberg made the announcement on Facebook’s earnings call for the first quarter of 2021. It’s also launching a new feature: business users will now be able to start creating such advertisements directly from WhatsApp Business app, which wasn’t possible before, making the ad buying process more seamless. CEO Mark Zuckerberg said Wednesday there are now 1 million businesses using those “click to WhatsApp” ads. On Wednesday, the company finally provided some details on how it’s using WhatsApp to drive ad sales on its other platforms, Facebookīusinesses that use WhatsApp to communicate with customers and conduct transactions - a group considered key to the app’s future - have since 2017 been able to purchase ads on Facebook and Instagram that include a button allowing users to switch to WhatsApp and initiate a conversation with that business. USA, New York, New York, San Francisco, CaliforniaĬo-founders Palmer Luckey and Brendan Iribe, Engineer Chris Dycus, and CTO John D.Since Facebook paid a whopping $19 billion to buy WhatsApp in 2014, investors have wondered how it will cash in on the acquisition, especially after the company walked back a controversial plan to sell ads on the app. Koen Bok, Dirk Stoop, Jasper Hauser, Hugo van Heuven, Jorn van Dijkīryan O’Sullivan and Bethanye McKinney BlountĬo-founders Mike Matas and Kimon Tsinterisįounder and CEO Charles Jolley, other Strobe employeesĪvichal Garg, Curtis Spencer, Six employees Jonathan Perlow, Lucy Zhang, Ben Davenport Saadiq Rodgers-King, Justin Shaffer, 6 others USA, Mountain View, California / Malaysia, Kuala LumpurĬharles Lin, Carl Sjogreen, Adrian Graham Paul Buchheit, Bret Taylor, Jim Norris, Sanjeev Singh, 8 others While continuing with a pattern of primarily talent acquisitions, other notable product focused acquisitions include the $19 billion WhatsApp acquisition and the $2 billion Oculus VR acquisition. One of the ways to do this is to focus on acquiring great companies with great founders." The Instagram acquisition, announced on April 9, 2012, appears to have been the first exception to this pattern. In order to have a really entrepreneurial culture one of the key things is to make sure we're recruiting the best people. We buy companies to get excellent people. He stated in 2010 that "We have not once bought a company for the company. In 2009, Meta (as Facebook) CEO Mark Zuckerberg posted a question on Quora, titled "What startups would be good acquisitions for Facebook?", receiving 79 answers. Most of Meta's acquisitions have primarily been " talent acquisitions" and acquired products are often shut-down. Meta has also made investments in Luck圜al and Wildfire Interactive. The majority of the companies acquired by Meta are based in the United States, and in turn, a large percentage of these companies are based in or around the San Francisco Bay Area. Meta also purchased the defunct company ConnectU in a court settlement and acquired intellectual property formerly held by rival Friendster. The WhatsApp acquisition closed at a steep $16 billion more than $40 per user of the platform. Meta Platforms (formerly Facebook, Inc.) is a technology company that has acquired 91 other companies, including WhatsApp.
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