Meta’s WhatsApp could get boost from Jio grocery shopping
Yahoo Finance anchors discuss the launch of a Jio grocery platform in conjunction with WhatsApp.
Video Transcript
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BRAD SMITH: Oh, yeah, this is the bonus stories today. Four stories, one minute each. You get a bonus one today.
We start with this-- the Indian conglomerate [? GeoPlatforms ?] is challenging Amazon and Flipkart in the region with the launch of GeoMart, an end-to-end shopping experience built into India's most popular platform, WhatsApp, the e-commerce venture. It helps bring the country's largest retail chain Reliance Retail into the digital space and could prove to be a huge revenue opportunity for Meta.
BRIAN SOZZI: OK.
BRAD SMITH: [INAUDIBLE] is making major investments into, of course, the digital-- well, the metaverse. It still has to figure out a way to make money with some of those other partnerships here. And perhaps, for WhatsApp, this could be at least a boost or boom to that business.
BRIAN SOZZI: Yeah, maybe a little diversification from that core advertising business for Meta. But this is fascinating. Nice interesting business here for the company that they're getting into.
BRAD SMITH: Well, it also comes back to the conversion rate that a company in Meta, companies in Amazon as well, that they're looking to continue to move forward with as advertisers. Anybody who's still spending those advertising in a massive form on Meta or on some of the other social media platforms, they're looking for conversions. And so this is a much more easy way to just prop up some of that conversion rate as well.
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