Facebook is buying messaging service WhatsApp for about 19 times estimated sales, based on a growth goal of 1 billion users. Sequoia Capital provided the only venture capital in the company, investing a total of about $60 million for a stake in the high teens.
Google reportedly offered to pay $10 billion to acquire WhatsApp.
Here’s a list of all the S&P 500 companies worth less than WhatsApp.
In non-WhatsApp/Facebook news, federal authorities are telling airlines to look out for explosives in shoes.
China just sold $50 billion worth of U.S. Treasurys, but don’t panic yet.
Golden Gate Capital on an exit spree — fresh off of finding a buyer for the parent company of the Eddie Bauer brand, Golden Gate-backed jeweler Zale Corp. is being sold to Kay Jewelers in a $1.4 billion transaction.
The Federal Communications Commission is exploring rules to discourage Internet service providers from charging companies to stream movies and music through faster channels.
If you have some time today, check out this investigative masterpiece on how dark money flows through the Koch Organization.
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