Any data about what has happened with Facebook messaging? A theory stemming from the experience with photos and games is that taking an ordinary, even inferior application and combining it with social can take the air out of other even superior applications by moving internet behavior into a closed system. This is sort of like what used to be said about Microsoft and its ability to incorporate new applications into the operating system leaving the innovator in the cold (see Netscape.) Facebook messaging seems to be a good test of the theory (and there was commentary asking whether FB messaging was the email killer), and perhaps something for investors bidding up Facebook’s valuation to dig into in considering whether the valuation is justified (I truly do not know the answer, just posing the question).
Facebook Valuation: The Facebook Messaging Test
