Heads turned when Facebook forked out $19 billion for messaging service WhatsApp in February, and eyes popped when Facebook CEO Mark Zuckerberg said it was probably worth even more. Now, analysts over at Crédit Lyonnais Securities Asia have taken up the baton on outsized messaging app valuations: it says that WeChat, a Chinese competitor owned by Tencent, is worth “at least $60 billion,” because of the fact that it has more active revenues streams incorporated into its service than WhatsApp does. CLSA ranges the valuation between $35 billion and $64 billion this year. In a bullish research note published today on Tencent (subtitle: “Building an empire”), analysts Elinor Leung and Terry Chen make the case for how WeChat should be worth at least two to three times the value of WhatsApp, which they had previously valued at $35 billion. Although it looks like WeChat has less users — around 300 million today to WhatsApp’s 465 million — it has more revenue streams. “WhatsApp only ge
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