It’s no secret that Mark Zuckerberg’s ambitious. He started Facebook, grew it till to its IPO and helped build it to one of the largest companies in the world. During that process, he acquired Instagram and Whatsapp. Now, he owns the three largest internet companies in the world.
In 2020, Meta bought a 9.99% stake in Jio Platforms, an Indian internet provider, for $5.7B. They are now using their stake to make moves in the Indian eCommerce space.
Meta is coming up with an eCommerce integration with Whatsapp between Reliance Jio and Whatsapp. This integration is for the Indian market and will allow Indian Whatsapp users to browse their products from their eCommerce store from Whatsapp itself.
This is in the very early stages of Whatsapp’s plan – Meta clearly wants to monetise Whatsapp and eCommerce and letting users send products to their friends & family, who can then buy them online is a good way to start. Especially if Whatsapp is able to own eCommerce companies and own the supplier and distribution network. This will allow Meta to get into the eCommerce space and be a serious threat to Amazon’s market share.
Starting with India is a smart move too. Facebook and Meta is one of the most trusted and used social media platforms in India. Aside from China, India has one of the fastest growing economies in the world. Many Indian people have never shopped online before – so Whatsapp could be the very first interaction that Indian people have with eCommerce and could leave a very good first impression which will help with Whatsapp’s and Meta’s brand in the country. This can open doors for Meta to build relationships with local Indian authorities which has historically been one of the biggest challenges for a multinational to do business in India.