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WhatsApp messaging app acquired by Facebook

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Published On February 20, 2014 By Syamanth Sreejith
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Facebook, Inc. has today announced that they will be acquiring WhatsApp Messenger for iOS, Android, BlackBerry, Windows Phone, etc. The new deal is reportedly inked on papers for about a total of 16 Billion United States Dollars.

 The cross platform messaging application for smartphones is bought by the Social Media giant, where the company will pay around $4 Billion in solid cash and the remaining $12 Billion in Facebook shares. The firm also let us know that the company will provide an additional $3 Billion in restricted stock units for the WhatsApp Founders and employees, that will vest in about four years from now. All the outstanding shares of WhatsApp capital stock will be cancelled in exchange of the aforementioned, four Billion USD.

 The Press release also confirm's that the WhatsApp Messenger application and their brand will be maintained and the headquarters will remain in Mountain View, California, United States, where else Jan Koum, Co-Founder and Chief Executive Officer of the sold firm will join Facebook's Board of Directors, and move his office to Menlo Park, California, USA.

 "WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable. I've known Jan for a long time and I'm excited to partner with him and his team to make the world more open and connected," said Mark Zuckerberg, Facebook Founder and CEO.

 "WhatsApp's extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide. We're excited and honored to partner with Mark and Facebook as we continue to bring our product to more people around the world," quoted Jan Koum, Co-Founder and CEO of WhatsApp.

 Source: facebook
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About author: Syamanth Sreejith

Syamanth is the Founder, Co-Owner Senior News Writer at THE PHONES GUIDE. He is a full-time media communications correspondent and mobile technology news writer and blogger, currently in charge of THE PHONES GUIDE, THE PHONES GUIDE BLOG and THE PHONES GUIDE on Medium.

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