Facebook To Buy WhatsApp For $16 Billion In Cash, Stock

By: Brian Solomon, Forbes Staff on Wednesday, February 19, 2014

Facebook announced on Wednesday afternoon that it had reached an agreement to buy popular mobile messaging company WhatsApp for a total of $16 billion, include $4 billion in cash and about $12 billion in Facebook shares.

According to Facebook’s SEC release, WhatsApp co-founder and CEO Jan Koum will join Facebook’s Board of Directors and an additional $3 billion in restricted stock units will be granted to WhatsApp’s founders and employees vesting over four years.

“WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable,” Facebook CEO Mark Zuckerberg said in a statement. “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.”
“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,” Koum said.
WhatsApp has over 450 million monthly users, 70% of whom are active on a given day. They are adding more than 1 million new registered users per day.

Tags: Local SEO, Facebook, Apps, Website
Source: Brian Solomon, Forbes Staff


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