Facebook: Text Messaging As You Know It Is Dead

Text messaging is passe.

Or at least that's message coming from Facebook (NASDAQ: FB  ) .

At this month's LeWeb conference in Paris, the social network talked up enhancements to its Facebook Messenger app. The goal? Replace SMS with a more enhanced platform for multimedia messaging wherever possible, and in the process lead unexposed populations to broader use of the social network.

For now, Messenger is only available in five non-U.S. territories: Australia, Argentina, India, South America, and Venezuela, CNET's News reports. Users need only a phone number to access the service from any type of handset -- no Facebook account required.

Is the strategy brilliant or hopelessly optimistic? I answer this question and more in the video below.

Thanks to a busted IPO, Facebook is only now regaining its footing. New initiatives such as Gifts and a more social mobile app are bringing money through the door in increasing amounts. Can these changes lead the stock into multibagger territory? We answer this question and more in our newest premium research report. Find out whether Facebook deserves a place in your portfolio. Click here to access your copy of the report now.

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