Meta’s primary growth focus lies in the expansion and monetization of business messaging platforms, with WhatsApp being a prominent contender, as stated by Mark Zuckerberg.
In another notable development, Meta’s collaboration with Jio in India, aimed at delivering a comprehensive end-to-end shopping experience, is now poised for a global expansion. During the Q3 2022 earnings call, Mark Zuckerberg highlighted the potential for commerce through chat-based interactions in this partnership.
Furthermore, Zuckerberg emphasized the burgeoning opportunity in paid messaging that Meta is actively exploring. He noted its rapid growth, albeit from a smaller starting point, and the establishment of a foundation for its future scalability. Meta is strategically partnering with industry leaders like Salesforce to enable businesses on their platform to utilize WhatsApp as their primary messaging service for customer inquiries, updates, and direct sales within chat.
Meta’s launch of JioMart on WhatsApp in India, which commenced in August, serves as a pioneering example of an end-to-end shopping experience, showcasing the immense potential of commerce facilitated through messaging. Zuckerberg expressed confidence in the significance of both Click-to-Messaging and paid messaging as substantial opportunities for Meta’s future growth.
It’s worth noting that Meta’s earlier introduction of short-form videos, known as “reels,” in India achieved remarkable success and was subsequently rolled out globally.
Additionally, insiders at Meta India have confirmed the intention to expand the initial end-to-end shopping experience launched in India to a global audience.
Reliance Industries’ latest earnings report also confirmed the positive impact of the JioMart-WhatsApp partnership, as it contributed to a significant influx of new customers. In Q2FY23, an impressive 37 percent of new JioMart customers were acquired through WhatsApp, according to their earnings commentary.
Mark Zuckerberg underscored that scaling and monetizing business messaging platforms remain pivotal growth areas for Meta, with WhatsApp Business Platform standing out as one of their most promising assets. The CFO of Meta, Dave Wehner, reported that in Q3 2022, revenue from the Family of Apps, particularly from the WhatsApp Business Platform, reached $192 million, marking a 9 percent increase driven by robust growth in business messaging.
