Keep up with the news by installing RT’s extension for . Never miss a story with this clean and simple app that delivers the latest headlines to you.

 

​Facebook buys mobile messaging service WhatsApp for $19bn

Published time: February 19, 2014 23:54
Edited time: February 20, 2014 11:56
AFP Photo / Lionel Bonaventure

AFP Photo / Lionel Bonaventure

In its largest acquisition Facebook has bought a mobile messaging service WhatsApp for $19 billion in cash and stock.

The social media giant is paying $12 billion in stock and $4 billion in cash for WhatsApp. The agreement also includes an extra $3 billion in restricted stock “to be granted to WhatsApp’s founders and employees that will vest over four years subsequent to closing,” Facebook said in a statement.

"WhatsApp is on a path to connect one billion people. The services that reach that milestone are all incredibly valuable," Mark Zuckerberg, Facebook founder and CEO, said in the statement.

WhatsApp is used by over 450 million people per month, Facebook said, adding that the messaging service is growing steadily and “currently adding more than one million new registered users per day.”

Jan Koum, co-founder and CEO of WhatsApp, will join Facebook’s Board of Directors.

“WhatsApp's extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide,” Koum said. “We're excited and honored to partner with Mark and Facebook as we continue to bring our product to more people around the world.”

Facebook will keep WhatsApp as its own service, similar to when it acquired Instagram for the now dwarfed sum of $715.3 million.

The purchase of WhatsApp is Facebook’s largest acquisition to date.

Comments (18)

 

John Smith 30.04.2014 19:17

Uninstalled.

 

mergon 21.02.2014 08:33

Building the machine , start a website for the people that looks like its for the people ,call it a social network the site will expand its self because the people will offer free idea,s
get the site hooked into the social mainframe hook it into the business network and the gaming network, get a face
recognition system thats hooked into the gaming network and get pictures of people in there own homes
give the people what they want and they will come in droves , people are links to other people and every person is a link .
And you cant delete the files they have on you ,your information does not belong to you !

 

mergon 21.02.2014 08:18

What is the going rate that the NSA pays now for the minimum i million personal files ?

View all comments (18)
Add comment

Authorization required for adding comments

Register or

Name

Password

Show password

Register

or Register

Request a new password

Send

or Register

To complete a registration check
your Email:

OK

or Register

A password has been sent to your email address

Edit profile

X

Name

New password

Retype new password

Current password

Save

Cancel

Follow us

Follow us