Google’s Executive Chairman Eric Schmidt Talks WhatsApp Deal And $1M Giveaway

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Everyone said Google made a big mistake when it failed to buy WhatsApp. But Google executive chairman Eric Schmidt had something to say about Facebook snapping up the app when he appeared on CBS.

When asked about Google’s try for the messaging app Facebook bought for upwards of $19 billion, Schmidt said he thought the acquisition price was low, reports Business Insider. He thinks the app is worth a lot more if Facebook figures out a way to monetize the app’s 460 million active users.

“People have been talking about a bubble in technology for years,” Schmidt said. “The price was low if they make gazillions of dollars off of the customers they’re getting…The price is too high if they can’t monetize.”

But Schmidt wouldn’t confirm if Google had bid on WhatsApp for $10 million. When asked he said: “Let me not talk about this specific conversation with WhatsApp. Let’s just say that we like WhatsApp…and we like some other things too including our own products.”

Besides  WhatsApp, Schmidt also announced his $1 million giveaway to tech innovators. Schmidt will donate “$1 million to help solve world problems through technology. The money will go to a group or individuals who are accomplishing this goal in a smart way,” reports Business Insider.

“I think I should put my money where my mouth is,” Schmidt said to CBS. “We identified a whole bunch of companies all over the world trying to solve oppressive censorship, empower individuals, and make these phones more useful.”

Schmidt will award the $1 million on March 10. Clip below.

 
http://www.cbsnews.com/common/video/cbsnews_player.swf

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