Mark Zuckerberg hints how Facebook will make big bucks from its newfound focus on privacy.
Already in India, the company is testing a WhatsApp payments feature that is being used by 1 million users and will roll out to more countries later this year, Zuckerberg said on Tuesday.
"What we expect is as we build out more commerce-related features around shopping and Instagram and Marketplace and Facebook and certainly the private social platform that I've been talking about, I think will lend itself to private interactions around payments and commerce and interacting with businesses in that way," Zuckerberg said on April 24.
Besides driving ad sales, Facebook's focus on payments could develop into a business similar to that of Venmo, which is owned by PayPal., Venmo is now generating revenue at a $300 million annualized run rate, PayPal said Tuesday at the company's investor meeting.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mark Zuckerberg explains how Facebook will make big bucks from privacy: Payments and commerceFacebook on Tuesday announced a bevy of new shopping features for its various apps, setting a business foundation for the company's pivot to privacy.
Read more »
POLITICO Playbook: What Trump is saying behind closed doors about the Democratic fieldThree Democratic presidential hopefuls grilled AG Bill Barr at yesterday's hearing. The consensus rankings from our Twitter feeds: 1. Kamala Harris 2. Amy Klobuchar 3. Cory Booker More in Playbook:
Read more »
Watch Mark Zuckerberg discuss Facebook's privacy product roadmap at the F8 Developer ConferenceFacebook is expected to peel back the curtain on some of its new initiatives around privacy and messaging at its developer conference.
Read more »
Mark Zuckerberg built this 'sleep box' to help his wife sleep through the night'So far this has worked better than I expected,' said Facebook CEO Mark Zuckerberg of the device he built for wife Priscilla Chan.
Read more »
Watch Mark Zuckerberg outline Facebook's new 6-principle approach to privacyMark Zuckerberg outlined Facebook's new privacy policies at the F8 Facebook developer conference. The company is focused on six privacy principles.
Read more »
Watch Mark Zuckerberg discuss Facebook's privacy product road map at the F8 Developer ConferenceFacebook is expected to peel back the curtain on some of its new initiatives around privacy and messaging at its developer conference.
Read more »
Cramer calls Mark Zuckerberg 'tone-deaf' after the CEO's privacy joke bombs at Facebook's developers conferenceMark Zuckerberg's joke about Facebook's privacy scandals during the company's F8 developer conference didn't land well, CNBC's Jim Cramer said.
Read more »
Mark Zuckerberg wants to build WeChat for the WestIt will revolve around turning the social network’s messaging services into something akin to a Chinese mega-app
Read more »