Now we know why companies are spending insane money to buy mobile apps

Facebook’s $19 billion acquisition of WhatsApp is not going to be the last jaw-dropping deal in the mobile app industry. If you’re looking for reasons why, search no further than Mary Meeker’s epic, 164-slide “Internet Trends” mammoth presentation. Slide 15 of the presentation shows that online ad dollars are still being completely misallocated. 19% of advertising spending still goes to print publications, even though people now spend only 5% of their media consumption time on print. Only 4% of ad money is spent on mobile, even though people now spend 20% of their media time on smartphones and tablets. This enormous discrepancy will be fixed as big, conservative brands keep shifting their marketing spending from print to mobile. It will

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