Whatsapp has 450 million users , and based on FB valuation, this translate to approx. $43/ user. BBRY has 80 millions active users on BBM. However Wall St analyst put the valuation at about $3/user. Were they wrong ? Well based on the price action after hours , maybe they were. This should be very interesting for BBRY . Expect a lot of action on this stock this year.
Plus, last I remember, BBRY was looking to drop BBM as a revenue source or something of the like (correct me if I'm wrong, haven't dug into BBRY since BB10 launch).