whatsapp

Facebook to purchase WhatsApp for $19 Billion

Facebook has just announced that it has reached an agreement to purchase WhatsApp mobile messaging app for $19 billion. This comes even after Facebook underwent failed attempts to purchase Snapchat for $3 billion. However, as if not seeming to relent on how much they want to bring social to everybody’s reach, today they have released a press release indicating that they will acquire WhatsApp.

$4 billion will be paid in cash to WhatsApp, while, $12 billion will be acquired by WhatsApp as Facebook shares. The remaining  $3billion will be granted to WhatsApp founders as restricted stock units.  Furthermore, the Co-founder and CEO Jan Koum will join the Facebook Board of Directors.

According to Facebook, the acquisition accelerates Facebook’s ability to bring connectivity to the entire world.

Facebook also said that WhatsApp mobile messaging app will continue to operate independently and that the program and the company will be allowed to continue building their brand as it is. More is on the press release by Facebook here.