Cramer said he's willing to overlook the company's revenue and earnings shortfall, and the opaqueness of the company's recent acquisition of Instagram, because Facebook has the "demo," the people (demographics) that advertisers are clamoring for. Facebook is immensely profitable, said Cramer, calling the company "the real thing."

Cramer acknowledged that without knowing the final price of the deal, this recommendation to buy is being made in a vacuum. But Cramer also noted that he advised selling the IPOs of Yelp ( YELP), Groupon ( GRPN), Pandora ( P) and Zynga ( ZNGA) and would still be a seller of these companies. Only Facebook, he determined, has a solid business model.

Lightning Round

In the Lightning Round, Cramer was bullish on Allison Transmission ( ALSN), Intuitive Surgical ( ISRG), Lions Gate Entertainment ( LGF) and Whole Foods Markets ( WFM).

Cramer was bearish on Accuray Incorporated ( ARAY) and SuperValu ( SVU).

--Written by Scott Rutt in Washington, D.C.

To contact the writer of this article, click here: Scott Rutt.

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At the time of publication, Cramer's Action Alerts PLUS was long KO, AAPL and ETN.

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