Mark Zuckerberg’s latest deal shows how high he’ll go, and how fast he’ll move, to keep Facebook Inc. (FB)growing by buying out the competition.
The world’s largest social network agreed Feb. 19 to acquire mobile-messaging startup WhatsApp Inc. for as much as $19 billion, with Zuckerberg, Facebook’s co-founder and chief executive, settling on the terms after five days of talks.
It would be the biggest purchase yet for Facebook and the most expensive for an Internet company in more than a decade. It gives WhatsApp, which has about 50 workers, roughly the same valuation as Gap Inc. (GPS), with about 136,000 employees, and more than half the market value of microblogging service Twitter Inc. (TWTR)
The deal shows how determined Zuckerberg is to bolster growth and court mobile users, even at the risk of raising concerns about the price he’s willing pay. Facebook shares rose yesterday, suggesting that may not be an issue in this case.
“He’s clearly laying his reputation on the line as a dealmaker,” saidCarl Howe, an analyst at Yankee Group. “And $19 billion is just a crazy valuation.
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