You have no idea of Whatsapp's marketshare in India - all small businesses use Whatsapp for all communication and even take payments. That's a 1.4B population.
It's not about money - how valuable the company is depends on how many people use it intersect how useful it is.
As long as it's valuable, it's valuable.
I have a great idea of Whatsapp's marketshare globally. I am simply pointing out the ad revenue of Whatsapp is extremely low compared to their other properties. There is simply not enough surface area in Whatsapp used for that and their business profiles etc. are not going to be outearning US users of FB/Instagram.
