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BlackBerry shares surge after Facebook bid for WhatsApp

20
Feb
2014

By Euan Rocha TORONTO (Reuters) – Facebook Incs stunning $19 billion bid for fast-growing mobile-messaging startup WhatsApp sent shares of BlackBerry Ltd surging after the closing bell on Wednesday, as investors were cheered by the lofty valuation for the messaging platform. The deal sent shares in BlackBerry up as much as 9 percent in trading after the bell because it put a rough valuation metric around the smartphone makers own BlackBerry Messaging service. BlackBerry Messaging, or BBM as it is more commonly known, was a pioneering mobile-messaging service, but its user base has failed to keep pace with that of WhatsApp, in part because BlackBerry had long refused to open the service to users on other platforms. Its service works on Apple Incs iOS platform, Google Incs market-dominating Android operating system, along with devices powered by both the Windows and BlackBerry operating systems.

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