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Facebook (FB) Tests New Free Version of its App Workplace
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Facebook is testing a free-to-use version of its office communicator, Workplace. The new version will be called Workplace Standard.
This version is quite similar to Workplace Premium, except that it does not provide users administrative and analytical tools like the latter, per reports. For premium, Facebook charges $3 for up to 1000 monthly active users (MAUs). For above 1K to 10K MAUs, the fee will be $2 per user and for more than 10K MAUs, Facebook will charge $1 per user.
Facebook product manger Simon Cross was quoted by CNBC saying, “Not every company wants to go through a full-scale enterprise deployment and not every company is in a position to pay for Workplace. Customers wanted an easier way to sign up for Workplace and a version of the product that worked for smaller companies, across different verticals, in different parts of the world.”
The company launched Workplace in Oct 2016. Initially called Facebook At Work, the project was piloted in 2015 and boasts features common to Facebook’s main platform, like News Feed, Trending, Live, Reactions and Search. It also has certain in-app exclusive features like dashboard analytics and a single sign-in access. Additionally, it announced “Multi-Company Groups” to allow employees of various organizations to work together.
With Workplace, the social media giant is trying to break into the lucrative but crowded enterprise software market that boasts names like Slack, Convo, Microsoft’s (MSFT - Free Report) Yammer and Salesforce’s (CRM - Free Report) Chatter. As per a Mar 2017 Gartner report, global spending for enterprise software will grow 7.3% year over year to $394.8 billion this year. It is a rewarding opportunity for Facebook, given the higher margins involved.
Analysts observe that Workplace’s familiarity with the social media platform could benefit it greatly and at the same time could also pose a challenge. As the app looks and feels almost similar to that of Facebook’s, it will be an easy access. Additionally, there are no advertisements on the platform and the privacy of the users will not be violated. The company has decided not to track users or hold their data.
Though most people may have a personal Facebook account, having it as an office communicator will be a very different thing. As Tech Crunch had earlier put it, “Facebook will just have to conquer the stigma that it’s for fooling around, not for getting work done.”
Per media reports, Facebook has said that the “free version has always been part of the plan.” It further added that over “thousands” of firms across the globe now use Workplace, including the likes of Starbucks (SBUX - Free Report) , Booking.com and Danone, along with regional leaders such as YES Bank (India) and the Government Technology Agency of Singapore (Singapore). India has been the top market for Workplace adoption.
In the past one year, Facebook’s shares have registered growth of 24.78% compared with the Zacks Internet Services industry’s gain of 6.74%.
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Facebook (FB) Tests New Free Version of its App Workplace
Facebook is testing a free-to-use version of its office communicator, Workplace. The new version will be called Workplace Standard.
This version is quite similar to Workplace Premium, except that it does not provide users administrative and analytical tools like the latter, per reports. For premium, Facebook charges $3 for up to 1000 monthly active users (MAUs). For above 1K to 10K MAUs, the fee will be $2 per user and for more than 10K MAUs, Facebook will charge $1 per user.
Facebook product manger Simon Cross was quoted by CNBC saying, “Not every company wants to go through a full-scale enterprise deployment and not every company is in a position to pay for Workplace. Customers wanted an easier way to sign up for Workplace and a version of the product that worked for smaller companies, across different verticals, in different parts of the world.”
The company launched Workplace in Oct 2016. Initially called Facebook At Work, the project was piloted in 2015 and boasts features common to Facebook’s main platform, like News Feed, Trending, Live, Reactions and Search. It also has certain in-app exclusive features like dashboard analytics and a single sign-in access. Additionally, it announced “Multi-Company Groups” to allow employees of various organizations to work together.
Facebook, Inc. Price
Facebook, Inc. Price | Facebook, Inc. Quote
With Workplace, the social media giant is trying to break into the lucrative but crowded enterprise software market that boasts names like Slack, Convo, Microsoft’s (MSFT - Free Report) Yammer and Salesforce’s (CRM - Free Report) Chatter. As per a Mar 2017 Gartner report, global spending for enterprise software will grow 7.3% year over year to $394.8 billion this year. It is a rewarding opportunity for Facebook, given the higher margins involved.
Analysts observe that Workplace’s familiarity with the social media platform could benefit it greatly and at the same time could also pose a challenge. As the app looks and feels almost similar to that of Facebook’s, it will be an easy access. Additionally, there are no advertisements on the platform and the privacy of the users will not be violated. The company has decided not to track users or hold their data.
Though most people may have a personal Facebook account, having it as an office communicator will be a very different thing. As Tech Crunch had earlier put it, “Facebook will just have to conquer the stigma that it’s for fooling around, not for getting work done.”
Per media reports, Facebook has said that the “free version has always been part of the plan.” It further added that over “thousands” of firms across the globe now use Workplace, including the likes of Starbucks (SBUX - Free Report) , Booking.com and Danone, along with regional leaders such as YES Bank (India) and the Government Technology Agency of Singapore (Singapore). India has been the top market for Workplace adoption.
At present, Facebook carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past one year, Facebook’s shares have registered growth of 24.78% compared with the Zacks Internet Services industry’s gain of 6.74%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>