Facebook has tried to take advantage of e-commerce for years without much success, though its Marketplace product – a Craigslist-like feature for buying and selling used goods – has nearly 1 billion monthly users and launched just three years ago. — AP
Facebook Inc acquired a small video-shopping startup earlier this year to help build a live shopping feature inside the company’s Marketplace product, according to a person familiar with the plans.
The social media company bought Packagd, a five-person company founded by Eric Feng, a former partner with Kleiner Perkins Caufield & Byers, and most of the startup’s team joined Facebook in September. Packagd was building a shopping product for YouTube videos. "Think of it as a re-imagination of QVC or a home shopping network,” Feng said in a 2017 interview with Bloomberg Television’s Emily Chang.
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