I'm particularly surprised about seeing Snapchat with twice the valuation of Whatsapp. Here in Amsterdam, Whatsapp seems to have close to 100% market penetration (i.e. almost all smartphone users use whatsapp), yet I've never heard anyone about snapchat here.
This too is the future: no apps will be global, but multiple fairly similar apps will carve out geographic niches, some larger than others. I can't really say which app should be valued more, but I would tend to think the one with the American teen audience will have more monetization opportunities (more disposable income and less discernment--or susceptibility to adverts).
