Tuesday , 28 September 2021
Breaking News
Home » Business » Facebook grabs WhatsApp for $19 Billion!
Facebook grabs WhatsApp for $19 Billion!

Facebook grabs WhatsApp for $19 Billion!

WhatsApp is off the market, Facebook has just revealed that it will be buying WhatsApp for $19 billion.

WhatsApp is the world’s most popular messaging app for mobile devices. It is also an application trying hard to monotize their service.

Looks like now under the care of Mark Zuckerberg it will be able to make out something.

As part of the deal, WhatsApp’s shareholders will receive $4 billion in cash and $12 billion in Facebook stock, while employees and founders of the popular messaging service will receive $3 billion in restricted stock units that will vest over four years. According to Facebook, Whatsapp will continue to operate independently and keep its brand. WhatsApp co-founder and CEO Jan Koum will become a member of Facebook’s board of directors.

In the official announcement, Facebook says that over 450 million people use WhatsApp at least once a month, and of these people, 70 percent use it every day. The number of messages exchanged on the platform is approaching the entire global SMS volume, which is telling for the magnitude of WhatsApp’s reach and influence. And the service doesn’t show any signs of slowing down, with one million users currently joining every day.

“WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable,” said Mark Zuckerberg on the deal. Facebook itself can boast the same number of users.

Facebook wants WhatsApp to “set its own direction and focus on growth while also benefiting from Facebook’s expertise, resources and scale”, meaning that the brand will continue to exist more or less unchanged. Facebook Messenger and WhatsApp will co-exist.

Related stories:

iPhone VS Hackers!
Bank of America CEO Ken Lewis to step down by end of 2009
iTunes 10 Features New Logo And Social Media Sharing Service
DOW Recovers on News of Italy's Reform Consolidation Program
School Uniforms with Microchips!
Internet Explorer 10 to be "Do Not Track" by Default
Coca-Cola to Invest Over $4 billion in China
E-Mails Now Part of DARK SOCIAL!