Facebook Looks To Buy Chatbot Startup Kustomer

Facebook is getting closer to finalizing an acquisition deal with the customer service chatbot startup Kustomer, according to a report in The Wall Street Journal citing sources.

The deal could close by the end of the day on Monday, November 30, and would value the New York-headquartered startup at more than US$1 billion, the sources said. Following a private funding round last year, Kustomer was valued at US$710 million. 

Founded in 2015 by Brad Birnbaum, chief executive officer, and Jeremy Suriel, chief technology officer, Kustomer is an omnichannel software-as-a-service (SaaS) and customer relationship management (CRM) firm that specializes in chatbot technology.

Shopify teamed up with Kustomer in July to advance more efficient operations. Kustomer said its platform will help retailers on Shopify automate 40% of interactions. The collaboration will also enable businesses to track all customer interactions.

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