Facebook Co-Founder and CEO Mark Zuckerberg defended his company’s $19 billion acquisition of cross-platform mobile messaging company WhatsApp during his keynote at the 2014 GSMA Mobile World Congress in Barcelona, Spain, Monday, and he also pretty much ruled out another run by Facebook at photo-messaging service Snapchat.
Zuckerberg said during his keynote, as reported by TechCrunch:
If we can do a good job with WhatsApp (and) grow it, it will be a huge business.
Why were we excited to do this together? It was the Internet.org vision and how we can connect the world.
If they did this as an independent company, they would have had to focus on how to build the company out, to scale it, but now they can focus on how to connect the 1 billion to 2 billion people.
After initially dodging a question about Snapchat, moderator David Kirkpatrick finally coaxed an answer out of Zuckerberg, according to TechCrunch:
Look, when you’ve just bought a company for $16 billion (not counting the restricted stock units), chances are you are probably done with your acquisitions for a while.
Readers: What did you think of the price tag for Facebook’s acquisition of WhatsApp?