Cbeyond has a market cap of $308M today. Birch is buying them for about $325M. CBEY market cap peaked at $520M in 2010. The IPO in 2005 was about $73Million. They bought a data center and hosting company and a hosted Asterisk business.

Meanwhile WhatsApp sells to Facebook for $16B, which is how much FB made on their IPO on Friday, May 18, 2012.

Oracle has a market cap of $181B today. C-Link is $21B. WIND is $6B. AT&T is $185B. VZ is $202B. Twitter has $22B. Telcos are riddled with debt. And The Street values layer 7 more than Layer 1. Just saying.