WhatsApp revenue is $1/user/year for all users who have used the service > 12 months. So, revenue is somewhere south of $450 million, but certainly a 9 figure n

WhatsApp revenue is $1/user/year for all users who have used the service > 12 months. So, revenue is somewhere south of $450 million, but certainly a 9 figure number. That's real revenue. What would be interesting is to know the gross and net margins, plus growth rates. With these numbers you could back your way into a valuation using various traditional valuation models. That said, my opinion is this deal is a mix of traditional business plus Zuckerberg's vision. The first and only time I got to hear Zuckerberg in person was at Startup School in 2013. Zuckerberg made some very interesting comments at Startup School. Basically, it was something along the lines of FB already has almost everyone who can afford a smartphone (i.e. developed markets) as a user. The next big idea is to help connect the next 6 billion people to the Internet...and then he went on to say this is an exciting idea but may not be good business. Make of that comment what you will.