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专栏 - 从华尔街到硅谷

收购WhatsApp:你不知道的那些数字

Dan Primack 2014年02月21日

Dan Primack专注于报道交易和交易撮合者,从美国金融业到风险投资业均有涉及。此前,Dan是汤森路透(Thomson Reuters)的自由编辑,推出了peHUB.com和peHUB Wire邮件服务。作为一名新闻工作者,Dan还曾在美国马萨诸塞州罗克斯伯里经营一份社区报纸。目前他居住在波士顿附近。
Facebook买WhatsApp花了190亿美元,不过这并不是唯一重要的数字。这笔交易的真实价值是多少?WhatsApp的投资者早期投了多少钱?这笔交易能给它的投资者带来多大的回报?值得关注的数字还有很多。

    Facebook公司斥资约190亿美元收购一家成立只有四年的通讯公司。和多数人一样,我不太能理解Facebook的这个决定。同时,我也注意到下面这些没有见诸媒体的数字:

    195亿美元

    这是Facebook付给WhatsApp的实际金额,是按今天的收盘价每股68.06美元计算的。计算收购总价时,Facebook使用的是2月18日之前六个交易日的均价——也就是每股仅约65.27美元。Facebook的股价在二级市场上略低,但仍然超过65.27美元。

    35%

    这是Facebook需要为这笔交易所掏现金占的比例。鉴于这笔交易主要是一个股票交易行为,因此,花这么多现金显得十分不同寻常。

    1

    这是目前拥有WhatsApp股份的风投公司的数量。中头彩的大赢家是红杉资本(Sequoia Capital),正是它在2011年率先投了A轮。

    6000万美元

    这是我们听说的红杉通过三轮融资(其中只有第一轮公开报道过)投入WhatsApp的总金额。其中大部分是C轮投入的5000万美元。去年年中,WhatsApp悄然完成了这轮融资。

    34亿美元

    这是根据大致估算,红杉能从这笔交易中赚到的钱。我认为它在WhatsApp的持股比例在10%-20%之间,也就是在32亿美元(17%)和36亿美元(19%)之间。(财富中文网)

    译者:清远

    

    Like many of you, I'm still having a hard time processing Facebook's decision to pay around $19 billion for a four year-old messaging company. In the meantime, some numbers that weren't in the press release:

    $19.5 billion

    That's the amount Facebook (FB) actually is paying for WhatsApp, based on today's closing stock price of $68.06 per share. In calculating the overall price, Facebook used the average of the six trading days preceding Feb. 18 -- which worked out to only around $65.27 per share. Facebook shares are off a bit in aftermarket trading, but still above the $65.27 mark.

    35%

    That's how much of Facebook's cash is being used for this deal. Pretty extraordinary, given that this is mostly a stock transaction.

    1

    That's how many venture capital firms currently own shares in WhatsApp. The lottery winner here is Sequoia Capital, which led the company's Series A round back in early 2011.

    $60 million

    That's how much we hear that Sequoia invested overall into WhatsApp, over three rounds of financing (only the first of which was ever publicly reported). The bulk of that was part of a $50 million Series C infusion that WhatsApp quietly closed in the middle of last year.

    $3.4 billion

    That's a ballpark figure for how much Sequoia will make on the deal. My understanding is that it holds a WhatsApp ownership percentage in the "high teens" -- placing it between $3.2 billion (17%) and $3.6 billion (19%).

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