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In February it will be ten years since Facebook (now Meta Platforms) bought WhatsApp. Where has all the time gone? They paid $19 billion for the messaging app back then, a significant amount of money considering that it hasn't generated much income since its acquisition.
WhatsApp had been left to do its own thing in the background, while Instagram and Facebook drove group profits. Meta is currently in a 'year of efficiency', where every part of the business needs to pull its own weight, and WhatsApp is stepping up.
The head of WhatsApp recently noted that "the goal is to make WhatsApp a household name, whether it is to shop, chat or stay on top of news and events".
There are over 200 million businesses using WhatsApp to connect with customers and they are ramping up the sales of advertising in the app, which could reach $10 billion in revenue this year.
WhatsApp has huge potential and could become a significant contributor to Meta's bottom line.
