Some years back, the now former owners of Whatsapp Messager, Mr Jan Koum, said they would never sell Whatsapp. But at about midnight yesterday, the world's biggest social networking company Facebook announced that it is buying mobile messaging service WhatsApp for $19 billion in cash and stock
Facebook would pay $12 billion in Facebook stock and $4 billion in cash for WhatsApp.
In addition, the app's founders and employees will be granted $3 billion in restricted stock that will vest over four years after the deal closes.
Facebook says it is keeping WhatsApp as a separate service, just as it did with Instagram, which it bought for about $715.3 million. I didn't even kwon Facebook had bought Instagram. WhatsApp is facebook's biggest acquisition so far
WhatsApp has more than 450 million monthly active users. In comparison, Twitter had 241 million users at the end of 2014. Check out just why Facebook was so interested in WhatsApp after the cut
'The combination of WhatsApp and Facebook will allow us to connect many more people round the world,' Zuckerberg said.
'We want to develop more mobile experiences like Instagram and Messenger.
'WhatApp fits this vision perfectly, it has incredibly strong engagement and growth.'
'It's the only app we've ever seen that has grown more quickly than Facebook itself.'
'Their product roadmap is very exciting and won't change.
As part of the deal, WhatsApp co-founder and Chief Executive Jan Koum will join Facebook's board, and the social network will grant an additional $3 billion worth of restricted stock units to WhatsApp's founders, including Koum.
'This is an incredible moment for me,' Mr Koum said.
'Every day over 19bn messages are sent, with over 1m new users every day.
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