This is an acquisition for the record books: Facebook has acquired WhatsApp, the cross-platform mobile messaging app, for a jaw-dropping $19bn (£11.8bn) of total deal value.

So where does this price tag come from? It will be crucial for Facebook to show this to its investors in the coming months. However, in a world where intangible assets drive value – which is especially true for big name media like Facebook and WhatsApp – measuring a firm’s worth isn’t easy.

Indeed, while a company’s brand recognition, the patents, copyrights and trademarks they own and the business methodologies they employ don’t have obvious physical value, these intangible assets nonetheless contribute to a company’s overall value.

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