Messenger and WhatsApp would drive the next wave of sales growth of the company, Meta Platforms Inc CEO Mark Zuckerberg told his employees as he sought to reduce concers about finances of Meta after mass layoffs.
While addressing pointed questions at a meeting after the layoffs, Mark Zuckerberg described the pair of messaging apps as being very early in monetization compared to Meta’s advertising juggernauts, including Instagram and Facebook. Meta announced that it will let go of 13 percent of the company’s workforce as part of a plan to decrease costs at the company.
Mark Zuckerberg added that they talk a lot about the long-term opportunities such as metaverse, but the reality is that business messaging is going to be the next important step of their business as they work to monetize Messenger and WhatsApp more.
Meta enables some of its consumers to transact and speak with merchants through the chatting apps, including a new feature that was announced on Thursday, November 17, 2022 in Brazil.
Mark Zuckerberg’s comments reflect a shift in emphasis after focusing heavily on the extended software and hardware investments since Meta announced an ambition to build out an immersive metaverse in 2021.
People were the biggest expense of Meta, followed by the capital expenditure, the large majority of which went to infrastructure to support the suite of social media apps. Around 20 percent of Meta’s budget was largely going to Reality Labs.