The $19 billion acquisition of WhatsApp by Facebook has gone through. The deal was being held up by EU regulations as has been the case with several acquisitions lately. As part of the deal, WhatsApp co-founder Jan Koum will join Facebook’s board of diretors and stay on as company head.
Also listed in the official filling of the deal, Koum has agreed to the annual base salary of $1 and will not be up for a bonus by Facebook’s bonus plan. Koum will receive almost 25 million in restricted stock units. This “inducement grant” will vest over a period of four years.
WhatsApp was originally to be shutdown this year in anticipation of regulation going through. With Europe being a hold out concerning regulatory approval, the plan to close WhatsApp was moved to next year. WhatsApp was known as a popular cross platform messaging app that gained mainstream attention just prior to picking up 500 million users.