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Silicon Valley’s “if you can’t beat ’em, buy ’em” approach comes under federal scrutiny. Some antitrust experts say better late than never. When Facebook bought WhatsApp for $22 billion in 2014, many observers scratched their heads. The smaller messaging platform had annual revenues in the low tens of millions. How could it be worth so much ?
Soon enough, however, Facebook’s logic became clear. While little noticed in the US, WhatsApp was already a juggernaut overseas, with hundreds of millions (...)