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Facebook to Buy WhatsApp for $16 Billion

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Ahead of the Bell: Facebook shares stumble

loco503

Feb 20, 2014, 10:00 AM
Shares of Facebook slipped Thursday morning after the world's biggest social networking site surprised Wall Street by spending $19 billion on the messaging service WhatsApp.

Analysts that follow the company had mixed feelings on the deal, which Sterne Agee called strategically sound. But Pacific Crest Securities said it would have preferred to see Facebook grow organically, or at least act sooner on such acquisitions to avoid the sticker shock.

WhatsApp is a global messaging service for smartphones. It allows users chat with their phone contacts, both one-on-one and in groups, and well the sending of texts, photos, videos and voice recordings.

Facebook said Wednesday that it's paying $12 billion in stock and $4 billion in cash for t...
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Doom Wolf

Feb 20, 2014, 10:39 AM
Miss'd 'em.
...

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