Facebook To Acquire WhatsApp For $19 Billion

Facebook To Acquire WhatsApp For $19 Billion

According to a document filed with the SEC, Facebook will purchase the hot messaging client WhatsApp for $16 billion. There will be an additional $3 billion—in restricted stock—paid to WhatsApp employees. The company pointed out that WhatsApp will operate in the same fashion as Instagram and will not be a part of Facebook Messenger.

Facebook founder and CEO Mark Zuckerberg spoke of the deal in a press release saying “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.”

Jan Koum, founder and CEO of WhatsApp also spoke of the deal in the press release and showed optimism about the team up. Koum will join the Facebook board of directors, but the company will stay based out of Mountain View, California.

While the deal sees Facebook’s ecosystem growing larger, it allow the company to get back a section of teenagers who departed Facebook in favor of WhatsApp and other simpler messaging platforms. While they wouldn’t be Facebook users, they would be users within the Facebook network—which would be good enough should Facebook choose to use such branding to include all of its properties and the related millions of users.

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Starting with Kabir News in 2013, James has focused on tech, gaming, and entertainment. When not writing, he enjoys catching up on sci-fi and horror shows and comics. He can be followed on Twitter @MetalSwift.

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