WRITTEN BY: Henry Blodget
Facebook made a breathtaking move yesterday, buying messaging app WhatsApp for $19 billion.
Even for Facebook, that’s a staggering amount to pay for a company with estimated 2013 revenue of only $20 million. It represents almost 10% of Facebook’s overall value — for a “messaging app.”
So in the wake of the announcement, the usual chorus of keyboard pundits took to Twitter to snicker together and pronounce Facebook and its CEO, Mark Zuckerberg, brain dead.
But Facebook buying WhatsApp for $19 billion isn’t a brain dead move.
It’s just bold.
Like other bold moves, Facebook’s WhatsApp deal could end up looking brilliant.
That’s what makes it bold.
If it were guaranteed to end up looking brilliant, it wouldn’t be bold. It would be obvious, safe, and boring. And Facebook hasn’t built a service used by…
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