According to Bloomberg, Facebook Inc. purchased a small video-shopping startup, named Packagd to initiate the live shopping feature that it is developing for Marketplace.
Packagd was founded by Eric Feng, ex-partner of Kleiner Perkins Caufield & Byers. At the time of Facebook’s acquisition, the company had five workers – who all joined Facebook in September.
As of yet, Facebook has not made any official announcement of its linkup with Packagd but Bloomberg reported that the small startup team is currently working on a project for Marketplace, that would allow purchases through live video broadcasts.
Facebook tested a similar project in Thailand last year as well. However, the protocol didn’t work too well during that time and has been sealed off.
Making purchases through live shopping is growing immensely in popularity. The trend is especially favored by users in China. The Alibaba Group also initiated a similar mode of shopping on Single’s Day this year, which generated $38 billion in sales.
Kim Kardashian also launched her new fragrance via livestream while Amazon is working on features to introduce live video shopping as well.
Interestingly, Facebook’s flagship app has been trying its hands on e-commerce for many years. Unfortunately, it has not gotten much success.
Let’s wait and watch how the recent initiative of the social media giant unfolds.
Photo: Gabby Jones/Bloomberg
Read next: Facebook Introduces Spacial Holiday-Related Features In Messenger Kids
Packagd was founded by Eric Feng, ex-partner of Kleiner Perkins Caufield & Byers. At the time of Facebook’s acquisition, the company had five workers – who all joined Facebook in September.
As of yet, Facebook has not made any official announcement of its linkup with Packagd but Bloomberg reported that the small startup team is currently working on a project for Marketplace, that would allow purchases through live video broadcasts.
Facebook tested a similar project in Thailand last year as well. However, the protocol didn’t work too well during that time and has been sealed off.
Making purchases through live shopping is growing immensely in popularity. The trend is especially favored by users in China. The Alibaba Group also initiated a similar mode of shopping on Single’s Day this year, which generated $38 billion in sales.
Kim Kardashian also launched her new fragrance via livestream while Amazon is working on features to introduce live video shopping as well.
Interestingly, Facebook’s flagship app has been trying its hands on e-commerce for many years. Unfortunately, it has not gotten much success.
Let’s wait and watch how the recent initiative of the social media giant unfolds.
Photo: Gabby Jones/Bloomberg
Read next: Facebook Introduces Spacial Holiday-Related Features In Messenger Kids
