Facebook Buys Israeli AI Chatbot Company Servicefriend for Calibra Crypto Wallet

Facebook Calibra Crypto Wallet

Facebook has recently completed the acquisition of Servicefriend, an Israeli startup that develops AI-based chatbots. Facebook is planning to use the company’s services for Calibra customer services, a digital wallet that Facebook is developing along with its native cryptocurrency Libra.

Facebook is planning to launch Libra, a stablecoin developed for peer to peer transactions, through Facebook’s bunch of applications. Along with Libra, the firm is also developing a crypto wallet called Calibra to store Libra. With the Servicefriend acquisition, Facebook is planning to provide smart chat programs to clients in messaging apps based on artificial intelligence in order to help the customer service team of Calibra.

The news about the acquisition was first flashed in Israel where the company is based, when the local news outlet The Marker published details about the deal after receiving a tip from one of Servicefriend’s investors, Roberto Singler. When multiple leading technology news media outlets inquired with one of the co-founders of the company, Ido Arad, regarding the acquisition, Facebook confirmed the news without giving much information about it.

“We acquire smaller tech companies from time to time. We don’t always discuss our plans,” a Facebook spokesperson stated.

Several signs indicate the completion of the acquisition. For instance, the LinkedIn profiles of several employees of the company, including co-founders Arad and Shahar Ben Ami, state that they now work at Facebook within the Calibra digital wallet group. Their job statuses were updated this month which confirmed the acquisition.

Helpful Chatbots in the Crypto Sphere

Facebook hasn’t made any comments regarding the application of Servicefriend’s services. However, acquiring a chatbot developer company indicates that Facebook may use the company’s network of bots (developed by or with the help of Servicefriend) to back the customer support team of Calibra.

Facebook’s plan to launch Libra will be incomplete without Calibra, a cryptocurrency wallet that will allow people to send and receive money in the form of the Libra cryptocurrency. Since Facebook has billions of active users, the large number of people who will use the service can be immense, which also requires a rock-solid and 24/7 accessible customer service.

“We are here for you,” Calibra notes on its welcome page, where it promises 24-7 support in WhatsApp and Messenger for its users.

Servicefriend has previously worked with Facebook to develop hybrid bots for companies on Facebook Messenger to give their customers a better service experience. For Facebook’s Calibra, to expand its services and credibility and having a top-tier customer support, it could be of paramount importance to wield a network of hybrid chatbots tat might be the greatest help to its customer service team.

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