Exercise 3: In 2012 FACEBOOK bought INSTAGRAM for$1 Billion,and in 2014 FACEBOOK bought WHATSAPP for $19 Billion. These are only two of the multiple companies that FACEBOOK has acquired in the last years. Analyze and explain:
(i)The main characteristics of these two Acquisitions made by FACEBOOK;
(ii)What are, in your opinion, the risks that FACEBOOK had to face when it first decided to acquire these two companies;
(iii)Why do you think that FACEBOOK decided to buy these companies;
(iv)How these Acquisitions affected FACEBOOKs stocks value.
This exercise assesses the following learning outcomes: 
(i) the forms of acquisition, and
 (ii) the critically evaluation of financial distress.