In March 2019, Meta (then Facebook) chief executive officer Mark Zuckerberg announced a major push into e-commerce with the launch of Checkout, a feature that would allow for consumers to buy products directly on its apps.
It seemed a substantial money-making opportunity for the social media giant. “To be clear, we are bullish [on] Instagram’s commerce opportunity,” Morgan Stanley analyst Brian Nowak wrote in an April 2019 research note,…