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BREAKING NEWS: Facebook to buy WhatsApp for $16 billion

Facebook announced today that it is going ahead with the purchase of the instant messaging service WhatsApp for an astounding 16 billion dollars. This purchase will be composed of 4 billion dollars in cash and 12 billion dollars worth of shares in Facebook.

WhatsApp facebook
Welcome to the world of Facebook, Whatsapp. © AndroidPIT

In a document filed with the SEC today, Facebook has confirmed that it will be buying the messaging client. As with their earlier purchase of Instagram, Facebook will allow WhatsApp to continue to operate independently after the acquisition and the deal also include an extra 3 billion dollars worth of Facebook stock for WhatsApp employees. Mark Zuckerberg, the Facebook founder, had this to say about the newly released information on the acquisition:

WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable. WhatsApp will complement our existing chat and messaging services to provide new tools for our community.

 Mark Zuckerberg

Furthermore, WhatsApp co-founder Jan Koum will join Facebook’s board of directors as a part of the deal. The operations of WhatsApp, located currently in Mountain View, California, isn’t expected to change. Over 450 million people use WhatsApp on a monthly basis and 70% of them are active users, according to statistics released with the press release.

What do you think about Facebook’s latest acquisition? 


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