As the world's largest social network, Facebook is now announcing that it has bought the mobile messaging service WhatsApp in a deal worth a total of $19 billion (£ 11.4 billion) in cash and shares, which is one of the top 10 chats apps for smartphones.
In Facebook's statement of the deal, it says that the social networking giant has reached a definitive agreement to acquire WhatsApp. Facebook will pay $4 billion in cash and $12 billion worth of Facebook shares for WhatsApp. An additional $3 billion in restricted stock units will be granted to WhatsApp employees and founders. Thses units will vest over the next four years.
It is the social networking giant's biggest acquisition to date. Facebook said its mission is to give people the power to share and make the world more open and connected. People can use Facebook to stay connected with friends and family, to discover what's going on in the world and to share and express what matters to them.
WhatsApp has more than 450 billion people using the service each month, with 70 percent of those active on a given day. By the measure, Facebook is paying about $40 per user.
"WhatsApp is on a path to connect one billion people. The services that reach that milestone are all incredibly valuable", Mark Zuckerberg, Facebook's founder and chief executive, said in the statement.
In Facebook's announcement to acquire WhatsApp, this social network says:
In summary, this acquisition will be beneficial to the development of Facebook and WhatsApp. If you are a user of both the services, keep an eye on how they will improve the service.comments powered by Disqus