NIKILA SRINIVASAN’S ELDERLY mother in Chennai uses WhatsApp to talk to her milkman. Like millions of other Indians, the messaging service is her link to various users and services, and her US-based daughter. “WhatsApp is a place where people are having their everyday conversations,” says Srinivasan, Global VP of Business Messaging at Meta. One of her responsibilities is to look for ways to monetise WhatsApp.
And that is a question that has bugged the messaging service for long. In 2014, when Facebook (now Meta) Founder and CEO Mark Zuckerberg unveiled his plans to acquire WhatsApp for $19.6 billion, many called the deal overvalued. But ace investor Warren Buffett spoke favourably. “I don’t understand technology, but I understand people. If Mark Zuckerberg believes in WhatsApp, that’s good enough for me,” the Oracle of Omaha had said.
But while Instagram—bought in 2012 for $1 billion—posted an estimated $51.4 billion in revenues in 2022 (per a Social App Report), WhatsApp brought in nearly $13 billion in 2022 (per AppMagic). The big difference between them lies in their monetisation models—which for Instagram, is mostly ad-based. Experts say that an encrypted messaging platform like WhatsApp isn’t favourable to ads.
It’s not as if WhatsApp has not tried; from charging users $1 per year, to launching WhatsApp Pay for which businesses would have to pay a flat fee of 3.99 per cent on every transaction, it has done it all, but to no avail. India, Meta’s happy hunting ground for pilot projects, too has disappointed WhatsApp in terms of monetisation, so far.
This story is from the October 29, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 29, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
