In March 2019, Mark Zuckerberg, the founder and CEO of Facebook, has publicly admitted that he wants Facebook to look more like WeChat in the future.
He said that he regretted not learning the lessons from the Chinese super app sooner and that the future he sees for Facebook social platform is about more user privacy along with new business models and services such as payments and e-commerce, which are exactly what WeChat already has.
Until now, Facebook business model is based on all the advertisements it makes on its platform to users whereas WeChat is way more centered around user experience and privacy.
Even if both apps have the same core functions such as sending private messages, audios and videos, sharing content or creating grouped discussions, WeChat differs fundamentally from Facebook and is surpassing its US counterpart in a lot of categories.
In addition to the core functions, WeChat allow users to schedule appointments, hail a car, make restaurant reservations, buy groceries, wire money to friends, book a hotel or an apartment, buy insurance, invest and much more. There is no wonder why WeChat is described as one of the world’s most powerful apps and it is also known as China’s “app for everything” and a “super app”.
This is on one part due to its advanced ecosystem of mini-programs which allows company’s to create an small program such as stores, appointment systems and other without ever leaving the WeChat app. It is really a concentration of services which makes the difference!
If Facebook were to resemble to WeChat, there would still be a long way to go.