Friday December 13, 2019

Libra could be Facebook's path to messaging profits

Facebook has more than 1.5 billion users on both WhatsApp and Messenger yet makes almost no money from the messaging services

26th June, 2019
Libra a new profit stream? Pic: Getty

While Facebook makes most of its revenue from advertising, chief executive Mark Zuckerberg says the future is private messaging. That’s a tough venue for data-hungry digital ads, so Wall Street has been wondering how the company will make money from this new future. Libra, the crypto coin Facebook announced last week, provides a tantalising answer.

“Libra could introduce a meaningful new product and profit stream for Facebook over the coming years,” Citigroup analyst...

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