Stories

SaveSave story

Facebook is ready to make money on messaging

Everyone thinks of Facebook as a social media behemoth, but they're actually much more dominant in messaging and ready to start making money on it. The company announced last week ads on Facebook Messenger globally. Reports are also out that Facebook is hiring talent to "lead product development on our monetization efforts" for WhatsApp, a messaging app popular in Europe that Facebook bought in 2014 for $19 billion.

Why it matters: People use messaging apps more than social media apps and Facebook owns an overwhelming majority of that market. (Facebook-owned WhatsApp is the number one messaging app in 107 countries around the world, and Facebook's Messenger is number one in 58 countries, according to a SimilarWeb study.)

Data: eMarketer, Line, Tencent, pymnts.com; Chart: Lazaro Gamio / Axios