Israeli-invented Instant Messaging Is Big Business but Not Big Profits

Israelis invented the basic technology in the 1990s and remain medium-sized players in the market, but nobody – not even Facebook, which paid $22 bilion for WhatsApp – can figure out how to make money from it.

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A historic event in the technology world occurred on February 6, 2014: Facebook announced the acquisition of WhatsApp, the instant messaging text, voice and photo application, for the astronomical sum of $22...