WhatsApp Purchased by FacebookCategory: General News
Posted: February 19, 2014 07:39PM
One of the largest messaging services, WhatsApp, has officially been purchased by Facebook, which is one of the most popular social networking sites available. The purchase will allow WhatsApp to stay independent from Facebook and its messenger application, though the purchase agreement will allow the WhatsApp application to be available to more users than ever. The Facebook founder and CEO, Mark Zuckerberg, stated that the business integration will broaden the ability for the WhatsApp team to make the world more connected. Additionally, WhatsApp co-founder and CEO, Jan Koum, noted that the company is honored to partner with an entity like Facebook.
The purchase agreement of WhatsApp by Facebook is valued at $16 billion in cash and stock, and also provides an additional $3 billion in restricted stock units that will be secured four years after closing.