Facebook Inc (NASDAQ:FB)’s Messenger is no longer your typical messaging app as a string of new updates at this year’s F8 conference will see the app being transformed into a platform with added capabilities. The next step is to monetize the app as the company moves to generate revenue from the platform. Speaking on Fox Business, The Social Internet Fund Manager, Lou Kerner, said Facebook has lost its ‘cool’ factor with the youth thus the ongoing push to do away with the ‘Facebook’ name in some of its products.
Facebook Inc (NASDAQ:FB) has in the recent past experienced a slow growth in its user base attributed to the millennia’s shunning the service, saying it has become boring. The company has however started to address the concerns with more focus on Instagram, WhatsApp and Messenger all of which Millennia’s love.
“[..] The Kids aren’t spending a lot of time in it anymore but where are they spending time? The fastest growing social media property today is Instagram, which happens to be owned by Facebook, WhatsApp also owned by Facebook the world most popular messaging app. Now they are trying to use Messenger without the Facebook Inc (NASDAQ:FB) name and bring that up to possibly compete against their own other apps,” Said Mr. Kerner.
Users on Messenger will now be able to share photos and videos as Facebook Inc (NASDAQ:FB) looks to compete against well-established brands in the space like WeChat. The app is also to become an e-commerce platform allowing users to send and receive money securely; Facebook having hired one of the top security brains behind the success of PayPal.
Users of Messenger will also be able to chat with businesses while making purchases and be able to make payments, made possible by the ability to send and receive money.
“Security you don’t really need to worry about too much, it is more about which third-party services are going to integrate with this and how. It is a niche idea actually ambitious. Every business small and big has a Facebook page, and now Facebook Inc (NASDAQ:FB) wants to move the conversations and the interactions that you are having with those businesses which are happening again in all sort of other apps. Hey come to Messenger, you can complain about customer service on messenger rather than Twitter,” said Pete Pachal, Mashable Technology Editor.
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