That's not the point. Execs don't dismiss WhatsApp because it's not US-oriented enough and therefore not shiny. Large multinational companies don't have that strong of bias towards any market or they wouldn't be successful multinational in the first place. Also, who in their right mind would want to be in charge of a market leader with 2 billions users? WhatsApp is so unshiny that Will Cathcart was in Fortune 40 under 40 last year...
WhatsApp was not left untouched by the way. If you are not targeting entreprise customers, what really makes money in the messaging world is payments and WhatsApp is moving hard into this market. It's just doing so in India.
2 billion of low-value users; FB users are accounted at $150 a head; out of 2 billion users it's account for, only ~100 million would part with a $1 / month to use the application - less that $12 a year per paying user. WhatsApp doesn't have any other monetisation strategy, there are no ads, and the markets they are in are extremely sensitive to fees for payments, for example.
> It's just doing so in India.
Everybody is doing so in India thanks to UPI. Google Pay, virtually unseen outside Tap and Pay in other markets, has 35% percent of the market in India - Whatsapp has a high 0.27% percent of the market in Sept 2021, up from 0.01% previously. https://www.moneycontrol.com/news/business/upi-top-3-retain-...
India payments competition is ruthless thanks to low barriers of entry.
You're right that WhatsApp really took their sweet time to copy WeChat. I wonder though whether there were mitigating factors. I know bringing WA onto the FB infra was a big job. Also had a friend that worked at WA and he was talking about India Payments over two years ago
WhatsApp was not left untouched by the way. If you are not targeting entreprise customers, what really makes money in the messaging world is payments and WhatsApp is moving hard into this market. It's just doing so in India.