NEW YORK (TheStreet) -- Facebook's (FB) - Get Meta Platforms Inc. Class A Report messenger platform has exploded in popularity since its 2011 launch and is currently drawing in roughly one billion active users.
The space is becoming increasingly attractive for corporations as well.
There are now 33,000 chatbots on the platform, Facebook's VP of Messaging Products David Marcus told CNBC in a Monday appearance on "Squawk Alley." Corporations such as American Express (AXP) and Tommy Hilfiger, among others, have built bots to interact with their customers. American Express' bot sends real-time purchase alerts to its cardholders, for example.
"The number of bots is not what matters," Marcus said. "What matters is actually the number of really good experiences that people can have and how engaged they are with those very few experiences that they care about."
Going beyond bots, Facebook is trying to create a true-cross platform experience for brands between its messenger app and the traditional network, Marcus added.
"What we're doing is basically enabling brands to create campaigns that start on news feed and that end in messenger," he said.
Shares of Facebook were slightly higher in late-morning trading Monday.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate FACEBOOK INC as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
You can view the full analysis from the report here: FB