Facebook Marketplace, the social media company’s buying and selling platform that was launched a year back, has got 1 billion users now, CEO Mark Zuckerberg shared during the company’s earnings call, says a report by Engadget. Not only that, there are over 1 million Shops on the platform and over 250 million people interact with the platforms on a monthly basis.
Zuckerberg has a “full-featured commerce platform” in mind and he said that the company is “investing in building the future of commerce”. Naturally, it is a revenue source for the company as it allows businesses to make use of its platform. During the ongoing coronavirus crisis that has stretched on for more than a year now with no clear signs of abating, the e-commerce industry is predictably expected to see a boom only.
Zuckerberg also reportedly outlined some of the plans one of which is allowing “business owners to buy Facebook ads that open directly in WhatsApp from the WhatsApp Business app.” Also, Instagram influencers would be able to launch their own shops from inside the app.
While the user base of the social media platform still grows despite it being a target for potential cybercrimes, Facebook has hinted that it would try its best at preventing personal data leaks from the platform and tried to reassure its users. It has said that its dedicated External Data Misuse team of over 100 experts is working on detecting, blocking and deterring data scraping. There have been no conclusive comments from the company on whether users can rest assured that their data will now be safe.