The other top trending tale today indisputably is Facebook's acquisition of WhatsApp. The Wall Street Journal reports Facebook will pay $16 billion for the little app, as did The New York Times, a number that has plenty of people flabbergasted. But as Wired's Tom Cheshire theorized, "Given how much money telcos make from now dwindling SMS, maybe $16 bn for whatsapp is fair."
Speaking of Wired, they touted the inside story on that, while at Forbes, Parmy Olson boasted an exclusive story on how Jan Koum built WhatsApp into FB's new $19 billion baby. If you're still not convinced, here's four numbers that explain why Facebook did it. Santa Cruz Sentinel's Jason Hoppin marveled, "Wow. Instagram now looks like a steal at $1 billion."
Incidentally, Google also offered to buy WhatsApp -- for $10 billion.
And just like that, WhatsApp’s founder goes from food stamps to billionaire, as Bloomberg News' Adam Satariano tells it. Freelance journalist Alex Cuadros frames this back story as "one more reason social assistance makes sense."