Its 470 million users have already erased $33 billion in SMS revenue from wireless carriers that got rich and fat charging per text.
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Inside The Facebook-WhatsApp Megadeal: The Courtship, The Secret Meetings, The $19 Bill... - 0 views
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“Sometime in the not too distant future,” says Sequoia’s Goetz, “WhatsApp is likely to eclipse all SMS traffic across the globe.” (Perhaps it’s no surprise that Zuckerberg reportedly held a private meeting with 20 telecom executives last week to ease their fears of being buried by free web-based services like Facebook and WhatsApp.)
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A threat to the telecom industry. Web apps like Facebook and WhatsApp erode the need for "wireless data plans" which are the primary source of revenue for wireless carriers.
Zynga Files for $1 Billion IPO - 0 views
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Zynga, the social-gaming company known for "FarmVille" and "Texas HoldEm Poker," is looking to raise $1 billion in an initial public offering, letting investors buy into a new market -- virtual goods.
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