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| Facebook buys WhatsApp for $19 billion |
Facebook buys WhatsApp for $19 billion virtual world's largest buy yet
The world's biggest social networking company said on Wednesday that it is paying $12 billion in Facebook stock and $4 billion in cash for WhatsApp also an additional $3 billion in stocks for Whatsapp founders
Facebook is buying mobile messaging service WhatsApp for $19 billion in cash and stock, by far the company's largest deal and bigger than any that Google, Microsoft or Apple have ever done.
The world's biggest social networking company said on Wednesday that it is paying $12 billion in Facebook stock and $4 billion in cash for WhatsApp. In addition, the app's founders and employees - 55 in all - will be granted restricted stock worth $3 billion that will vest over four years after the deal closes.
In a filing to the Security and Exchange Commission (SEC), Facebook announced the acquisition.
"The acquisition supports Facebook and WhatsApp's shared mission to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably. The combination will help accelerate growth and user engagement across both companies," the filing stated.
"WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable," said Mark Zuckerberg, Facebook founder and CEO. "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."
The company also announced that WhatsApp's cofounder and CEO Jan Koum would join Facebook's board of directors.
Facebook on Wednesday, announced that it will acquire the popular cross-platform mobile messaging company, WhatsApp for $19 billion.
The deal translates to roughly 9 percent of Facebook's market value. In comparison, Google's biggest deal, Motorola Mobility, stood at $12.5 billion, while Microsoft's largest was Skype at $8.5 billion. Apple, meanwhile, has never done a deal above $1 billion
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