Zuckerberg says WhatsApp business chat will drive sales sooner than metaverse

Meta Platforms Inc. chief executive Mark Zuckerberg told employees on Thursday, November 17, that WhatsApp and Messenger would drive the company’s next wave of sales growth, as he sought to assuage concerns about Meta’s finances after its first mass layoffs.

Meta enables some consumers to speak and transact with merchants through the chat apps, including a new feature announced Thursday in Brazil.Zuckerberg’s comments there reflect a shift in tone and emphasis after focusing heavily on extended reality hardware and software investments since announcing a long-term ambition to build out an immersive metaverse last year.

People were Meta’s biggest expense, followed by capital expenditure, the vast majority of which went to infrastructure to support its suite of social media apps, he said. About 20% of Meta’s budget was going to Reality Labs.

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