When the news of Facebook's $19billion acquisition of Whatsapp came out last week, it was widely believed that Mark Zuckerburg paid through his nose for that deal. After all, it was just a few months ago that market experts had valued the smartphone app at $1.5bn – a mere fraction of the actual sale price.
But while the world tried to play the Facebook founder for a sucker, the man himself maintained his calm at the Mobile World Congress yesterday and even went on to suggest that Whatsapp is actually worth even more than the staggering sum he paid for it.
In his typical geeky, unconfident way, Zuckerburg: "I just think that by itself it is worth more than $19 billion [14 billion Euros]. I mean it is hard to exactly make that speech today because they have so little revenue compared to that number.
"But the reality is that there are very few services that reach a billion people in the world. They are all incredibly valuable, much more valuable than that. I could be wrong. This could be the one service that gets to a billion people and ends up not being that valuable. I don't think I am."
It's clear that Facebook believes the bulk of digital and social networking in future will be done on smartphones and handheld devices. But what if we told you that that prophecy has already come true? At least in some parts of the worlds it has.
A new research by Nielsen has shown that people in the United States, the United Kingdom and Italy are already spending far more time on their smartphones than on Personal Computers (PCs).
The Italians, in particular, are the most in love with mobile technology, which is evident by the fact that they spend more than double the amount of time on their smartphones than on conventional computers and laptops.
And guess what? Social media and other communication apps are the primary reason behind this PC-to-mobile shift. Add in the fact that the year 2014 is expected to give birth to at least another half a billion smartphone users, and the whole Whatsapp acquisition starts to make sense.