Facebook acquires Packagd to build live-stream purchase capabilities

New Ideas in MarketingEssential news for marketers, summarised by YouGov
December 23, 2019, 7:32 AM UTC

Users will be able to ask questions and place product orders within the live-video broadcast.

Facebook has acquired a video commerce start-up, Packagd, which has expertise in enabling users to directly purchase products via live-stream, unboxing-type videos. According to Bloomberg, the acquisition will allow Facebook to build a new live shopping feature within its Marketplace product.

Confirming this acquisition, Facebook said that it is “exploring ways to let buyers easily ask questions and place orders within a live video broadcast." This feature is similar to Facebook’s live-stream buying project that piloted last year.

Though that project has halted, acquiring Packagd indicates that the social network giant still sees potential in using live videos to boost on-platform purchases. The article further states that 2020 will be instrumental for Facebook’s ecommerce plans, with its prospective cryptocurrency and options like Facebook Pay and WhatsApp Pay.

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